Swedish Software Defensive Blue Chips

M&T Bank

Market Cap: US$36.4b

Operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that provides retail and commercial banking products and services in the United States.

ITC

Market Cap: ₹3.5t

Engages in the fast-moving consumer goods, paperboards, paper and packaging, and agri businesses in India and internationally.

Sompo Holdings

Market Cap: JP¥5.9t

Provides property and casualty (P&C) insurance products and services in Japan and internationally.

Koninklijke Ahold Delhaize

Market Cap: €31.6b

Operates retail food stores and e-commerce in the Netherlands, the United States, and internationally.

Vodafone Group

Market Cap: UK£26.8b

Provides telecommunication services in Germany, the United Kingdom, rest of Europe, Turkey, and South Africa.

ON Semiconductor

Market Cap: US$36.0b

Provides intelligent sensing and power solutions in Hong Kong, Singapore, the United Kingdom, the United States, and internationally.

UltraTech Cement

Market Cap: ₹3.5t

Engages in the manufacture and sale of clinker, cement, ready mix concrete, and related products in India, the United Arab Emirates, Bahrain, and Sri Lanka.

Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna

Market Cap: zł135.0b

Provides various banking products and services in Poland and internationally.

ABN AMRO Bank

Market Cap: €31.1b

Provides various banking products and financial services to retail, private, and corporate banking clients in the Netherlands, rest of Europe, the United States, Asia, and internationally.

Prudential

Market Cap: UK£26.2b

Through its subsidiaries, provides life and health insurance, and asset management solutions to individuals in Asia and Africa.

Heidelberg Materials

Market Cap: €30.5b

Produces and distributes cement, aggregates, ready-mixed concrete, and asphalt worldwide.

Bank Leumi le-Israel B.M

Market Cap: ₪105.4b

Provides banking and financial services for households, small and medium enterprises, and corporations in Israel, the United Kingdom, and internationally.

Hannover Rück

Market Cap: €30.4b

Provides reinsurance products and services in Germany, the United Kingdom, France, Europe, the United States, Asia, Australia, Africa, and internationally.

Kroger

Market Cap: US$34.7b

Operates as a food and drug retailer in the United States.

Shinhan Financial Group

Market Cap: ₩51.2t

Provides financial products and services in South Korea, Vietnam, and Japan.

Hershey

Market Cap: US$34.5b

Engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally.

Federal National Mortgage Association

Market Cap: US$34.5b

Provides financing solutions for residential mortgages in the United States.

Alcon

Market Cap: CHF 27.8b

Researches, develops, manufactures, distributes, and sells eye care products worldwide.

Arch Capital Group

Market Cap: US$34.3b

Provides insurance, reinsurance, and mortgage insurance products in the United States, Canada, Bermuda, the United Kingdom, Europe, and Australia.

Martin Marietta Materials

Market Cap: US$34.2b

A natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally.

Muyuan Foods Group

Market Cap: CN¥229.7b

Operates as a pork company in the hog farming industry in China.

GLOBALFOUNDRIES

Market Cap: US$33.7b

A semiconductor foundry, provides range of mainstream wafer fabrication services and technologies in the United States, Europe, the Middle East, Africa, and internationally.

Capitec Bank Holdings

Market Cap: R548.9b

Through its subsidiaries, provides various banking products and services in South Africa.

Yuanjie Semiconductor Technology

Market Cap: CN¥226.6b

Yuanjie Semiconductor Technology Co., Ltd.

CEZ a. s

Market Cap: Kč703.2b

Engages in the generation, distribution, trade, and sale of electricity, heat, thermal energy and other commodities in Central Europe.

Advanced Info Service

Market Cap: ฿1.1t

Operates as a telecommunications company primarily in Thailand.

Talanx

Market Cap: €28.8b

Provides insurance and reinsurance products and services worldwide.

Centene

Market Cap: US$32.9b

Operates as a managed care company that provides programs and services to under-insured families, and commercial organizations in the United States.

BPER Banca

Market Cap: €28.7b

Engages in the provision of banking products and services for individuals, and businesses and professionals in Italy and internationally.

Malayan Banking Berhad

Market Cap: RM 133.5b

Provides commercial banking and related financial products and services.

Chunghwa Telecom

Market Cap: NT$1.1t

Operates as an integrated telecommunications service provider in Taiwan and internationally.

Swiss Life Holding

Market Cap: CHF 26.4b

Provides life, pensions, and financial solutions for private and corporate clients.

Resona Holdings

Market Cap: JP¥5.3t

Through its subsidiaries, engages in the provision retail and commercial banking products and services in Japan and internationally.

Standard Bank Group

Market Cap: R525.0b

Provides financial products and services in South Africa and internationally.

Credicorp

Market Cap: US$31.6b

Provides various banking services and products in Peru, Bermuda, Colombia, Bolivia, Panama, Chile, the United States, the Cayman Islands, and Mexico.

Ajinomoto

Market Cap: JP¥5.1t

Engages in the seasonings and foods, frozen foods, and healthcare and other businesses in Japan and internationally.