Thai Materials Defensive Blue Chips

Resona Holdings

Market Cap: JP¥5.1t

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

Ørsted

Market Cap: DKK 204.0b

Owns, develops, constructs, and operates offshore and onshore wind farms, solar farms, and energy storage and combined heat and power (CHP) plants.

Swiss Life Holding

Market Cap: CHF 25.1b

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

CEZ a. s

Market Cap: Kč656.0b

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

Credicorp

Market Cap: US$30.7b

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

Veolia Environnement

Market Cap: €26.7b

Designs and provides water, waste, and energy management solutions.

Muyuan Foods Group

Market Cap: CN¥207.5b

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

Citizens Financial Group

Market Cap: US$30.4b

Operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations, and institutions in the United States.

Yuanjie Semiconductor Technology

Market Cap: CN¥205.9b

Yuanjie Semiconductor Technology Co., Ltd.

Vodafone Group

Market Cap: UK£22.7b

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

Bank Hapoalim B.M

Market Cap: ₪90.5b

Provides various banking and financial services in Israel, North America, Europe, and internationally.

Bank of Jiangsu

Market Cap: CN¥204.6b

Provides various banking products and services in China.

Huadian New Energy Group

Market Cap: CN¥204.4b

Engages in the power generation business in China.

Veeva Systems

Market Cap: US$29.9b

Provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America.

GE HealthCare Technologies

Market Cap: US$29.8b

Engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally.

Grupo Financiero Banorte. de

Market Cap: Mex$521.2b

Through its subsidiaries, engages in the provision of banking and financial products and services in Mexico and internationally.

Amrize

Market Cap: CHF 23.9b

Engages in the provision of various building solutions for infrastructure, commercial, and residential construction markets in North America and Canada.

BIWIN Storage Technology

Market Cap: CN¥201.5b

Engages in the research and development, design, packaging, testing, production, and sales of semiconductor memory.

Svenska Handelsbanken

Market Cap: SEK 286.4b

Provides various banking products and services for private and corporate customers primarily in Sweden, the United Kingdom, Norway, the Netherlands, and internationally.

Kraft Heinz

Market Cap: US$29.7b

Manufactures and markets food and beverage products in North America and internationally.

Nestlé India

Market Cap: ₹2.8t

Engages in the manufacture and sale of food products in India and internationally.

Shenzhen Techwinsemi Technology

Market Cap: CN¥200.1b

Develops, manufactures, and sells storage control chips and modules in China and internationally.

Bank of Ningbo

Market Cap: CN¥200.0b

Provides various personal and business banking products and services in the People's Republic of China.

Ping An Bank

Market Cap: CN¥199.7b

Provides commercial banking products and services for individual and corporate customers, government agencies, institutions, and other small businesses in China and internationally.

AXIA Energia

Market Cap: R$153.4b

Through its subsidiaries, engages in the generation, transmission, distribution, and commercialization of electricity in Brazil.

Naturgy Energy Group

Market Cap: €25.6b

Engages in the supply, liquefaction, regasification, transport, storage, distribution, and sale of gas.

ResMed

Market Cap: US$29.0b

Develops, manufactures, distributes, and markets medical devices and cloud-based software applications to diagnose, treat, and manage respiratory disorders in the United States and internationally.

Seven & i Holdings

Market Cap: JP¥4.7t

Operates convenience stores in Japan, North America, and internationally.

Casey's General Stores

Market Cap: US$29.0b

Operates convenience stores under the Casey's and Casey’s General Store names in the United States.

Foshan Haitian Flavouring and Food

Market Cap: CN¥196.5b

Foshan Haitian Flavouring and Food Company Ltd.

Cincinnati Financial

Market Cap: US$29.0b

Provides property casualty insurance products in the United States.

Atmos Energy

Market Cap: US$28.9b

Engages in the regulated natural gas distribution, and pipeline and storage businesses in the United States.

Gulf Development

Market Cap: ฿948.7b

Generates and sells electricity and steam to public and private clients in Thailand and internationally.

Sampo Oyj

Market Cap: €24.8b

Provides non-life insurance products and services in Finland, Sweden, Norway, Denmark, Estonia, Lithuania, Latvia, Spain, Gibraltar, Germany, the Netherlands, France, and the United Kingdom.

Hangzhou Changchuan TechnologyLtd

Market Cap: CN¥191.5b

Researches and develops, produces, and sells integrated circuit equipment in China and internationally.

Chocoladefabriken Lindt & Sprüngli

Market Cap: CHF 22.6b

Engages in the development, manufacture, and sale of chocolate products worldwide.