Thai Utilities Defensive Blue Chips

Grupo Financiero Banorte. de

Market Cap: Mex$549.0b

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

Muyuan Foods Group

Market Cap: CN¥213.5b

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

Willis Towers Watson

Market Cap: US$31.5b

Operates as an advisory, broking, and solutions company worldwide.

Centene

Market Cap: US$31.5b

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

GE HealthCare Technologies

Market Cap: US$31.5b

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.

ON Semiconductor

Market Cap: US$31.5b

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

Credicorp

Market Cap: US$31.4b

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

Kraft Heinz

Market Cap: US$31.3b

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

Resona Holdings

Market Cap: JP¥4.9t

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

Bank of Jiangsu

Market Cap: CN¥210.3b

Provides various banking products and services in China.

ResMed

Market Cap: US$31.0b

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.

Bank of Ningbo

Market Cap: CN¥208.0b

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

Svenska Handelsbanken

Market Cap: SEK 293.7b

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

Citizens Financial Group

Market Cap: US$30.6b

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.

British American Tobacco Zimbabwe (Holdings)

Market Cap: US$3.9b

Together with subsidiaries, manufactures, distributes, and sells cigarettes in Zimbabwe.

Naturgy Energy Group

Market Cap: €26.3b

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

Nestlé India

Market Cap: ₹2.9t

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

Ajinomoto

Market Cap: JP¥4.7t

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

Gulf Development

Market Cap: ฿993.5b

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

Seven & i Holdings

Market Cap: JP¥4.7t

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

AXIA Energia

Market Cap: R$152.2b

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

Ørsted

Market Cap: DKK 188.4b

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

Atmos Energy

Market Cap: US$28.9b

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

Fresenius SE KGaA

Market Cap: €25.0b

A health care company, provides products and services for chronically ill patients in North America, Europe, the Asia-Pacific, Latin America, and Africa.

Sampo Oyj

Market Cap: €24.9b

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.

Banco BPM

Market Cap: €24.8b

Provides banking and financial products and services to individual, business, and corporate customers in Italy.

Sumitomo Mitsui Trust Group

Market Cap: JP¥4.5t

Operates as a trust bank in Japan and internationally.

Dollar General

Market Cap: US$28.2b

A discount retailer, provides various merchandise products in the southern, southwestern, midwestern, and eastern United States.

W. R. Berkley

Market Cap: US$28.0b

An insurance holding company, operates as a commercial line writer worldwide.

Amrize

Market Cap: CHF 22.6b

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

Qnity Electronics

Market Cap: US$27.9b

Provides materials and solutions to the semiconductor and electronics industries in the United States, rest of Americas, Europe, the Middle East, Africa, Asia Pacific, China, South Korea, Taiwan, and internationally.

Aviva

Market Cap: UK£20.7b

Provides various insurance, retirement, and wealth products in the United Kingdom, Ireland, Canada, India, and China.

George Weston

Market Cap: CA$39.2b

Provides food and drug retailing, and financial services in Canada.

Power Grid Corporation of India

Market Cap: ₹2.6t

An electric power transmission utility, engages in the power transmission business in India and internationally.

Shenzhen Mindray Bio-Medical Electronics

Market Cap: CN¥186.6b

Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

TS Financial Holding

Market Cap: NT$892.8b

Provides various financial products and services.