Thai Materials Defensive Blue Chips

Bharti Airtel

Market Cap: ₹11.4t

Operates as a telecommunications company in India and internationally.

Altria Group

Market Cap: US$119.5b

Through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States.

Enel

Market Cap: €101.5b

Operates as an integrated operator in the electricity and gas industries worldwide.

Infineon Technologies

Market Cap: €99.2b

Develops, manufactures, and markets semiconductors and semiconductor-based solutions in Germany, Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, the Asia-Pacific, Japan, the United States, and the Americas.

Zurich Insurance Group

Market Cap: CHF 90.6b

Provides insurance products and related services in Europe, the Middle East, Africa, North America, Latin America, and the Asia Pacific.

Hygon Information Technology

Market Cap: CN¥747.6b

Engages in the research and development of processors, accelerators, and other computing chip products and systems in China.

Bank of Nova Scotia

Market Cap: CA$151.1b

Provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally.

Al Rajhi Banking and Investment

Market Cap: ر.س396.6b

Provides banking and investment services in the Kingdom of Saudi Arabia and internationally.

Canadian Imperial Bank of Commerce

Market Cap: CA$149.4b

A diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally.

ICICI Bank

Market Cap: ₹10.0t

Engages in the provision of various banking and financial services to retail and corporate customers in India and internationally.

Semiconductor Manufacturing International

Market Cap: HK$816.2b

An investment holding company, engages in the manufacture, testing, and sale of integrated circuits wafer and various compound semiconductors in the United States, China, and Eurasia.

AXA

Market Cap: €90.1b

Through its subsidiaries, insurance, asset management, and banking services worldwide.

State Bank of India

Market Cap: ₹9.7t

Provides banking products and services in India and internationally.

Medtronic

Market Cap: US$101.4b

Develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients in the United States, Ireland, and internationally.

PNC Financial Services Group

Market Cap: US$101.0b

Operates as a diversified financial services company in the United States.

CaixaBank

Market Cap: €88.0b

Provides various banking products and services for individuals and businesses in Spain, Portugal, and internationally.

ASE Technology Holding

Market Cap: NT$3.2t

Provides semiconductor manufacturing services in the United States, Taiwan, rest of Asia, Europe, and internationally.

China Yangtze Power

Market Cap: CN¥659.4b

Engages in hydropower generation business in China, Portugal, Peru, Brazil, and Pakistan.

U.S. Bancorp

Market Cap: US$96.5b

A financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States.

AIA Group

Market Cap: HK$753.2b

Provides life insurance based financial services in Hong Kong.

Monster Beverage

Market Cap: US$95.5b

Through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally.

NFiniTi

Market Cap: US$95.5b

Operates as an alcoholic beverage company that specializes in producing ready-to-drink cocktails across the Western Hemisphere.

Barclays

Market Cap: UK£70.4b

Provides various financial services in the United Kingdom, Europe, the Americas, Africa, the Middle East, and Asia.

ING Groep

Market Cap: €80.7b

Provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally.

EssilorLuxottica Société anonyme

Market Cap: €80.6b

Designs, manufactures, and distributes ophthalmic lenses, frames, sunglasses, and instruments and equipment in North America, the Middle East, Africa, Europe, Latin America, and the Asia-Pacific.

Elevance Health

Market Cap: US$90.4b

Operates as a health benefits company in the United States.

NAURA Technology Group

Market Cap: CN¥610.2b

Engages in the research and development, production, sale, and technical services of semiconductors in the People's Republic of China.

McKesson

Market Cap: US$89.9b

Provides healthcare services in the United States and internationally.

Lloyds Banking Group

Market Cap: UK£66.5b

Provides a range of banking and financial products and services for retail and commercial customers in the United Kingdom.

Tokio Marine Holdings

Market Cap: JP¥14.1t

Engages in the non-life and life insurance, and financial and general businesses in Japan, the United States, and internationally.

HCA Healthcare

Market Cap: US$87.2b

Through its subsidiaries, provides health care services in the United States.

Oversea-Chinese Banking

Market Cap: S$112.6b

Provides financial services in Singapore, Malaysia, Indonesia, Greater China, rest of the Asia Pacific, and internationally.

Constellation Energy

Market Cap: US$85.4b

Produces and sells energy products and services in the United States.

Postal Savings Bank of China

Market Cap: HK$666.0b

Provides various banking products and services for retail and corporate customers in the People’s Republic of China.

Comcast

Market Cap: US$84.9b

Operates as a media and technology company worldwide.

Westpac Banking

Market Cap: AU$121.1b

Provides banking and other financial services in Australia, New Zealand, the Pacific Islands, Asia, the Americas, and Europe.