Estonia Commercial Services Defensive Blue Chips

Zurich Insurance Group

Market Cap: CHF 81.7b

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

Sumitomo Mitsui Financial Group

Market Cap: JP¥14.8t

Provides banking, leasing, securities, consumer finance, and other services in Japan, the Americas, Europe, the Middle East, Asia, and Oceania.

Marsh & McLennan Companies

Market Cap: US$100.0b

A professional services company, provides advisory services and insurance solutions to clients in the areas of risk, strategy, and people worldwide.

Postal Savings Bank of China

Market Cap: HK$772.6b

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

AIA Group

Market Cap: HK$770.3b

Provides life insurance based financial services in Hong Kong.

Econet Wireless Zimbabwe

Market Cap: US$12.4b

Through its subsidiaries, primarily provides mobile telecommunications and related value added services in Zimbabwe.

Enel

Market Cap: €79.0b

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

China Telecom

Market Cap: HK$710.4b

Provides mobile communications, wireline and satellite communications, internet access, cloud computing and computing power, AI, big data, quantum, ICT integration in the People’s Republic of China.

NTT

Market Cap: JP¥13.2t

Operates as a telecommunications company in Japan and internationally.

Bank of Communications

Market Cap: HK$698.3b

Provides commercial banking products and services in China.

HCA Healthcare

Market Cap: US$87.4b

Through its subsidiaries, owns and operates hospitals and related healthcare entities in the United States.

Intel

Market Cap: US$86.5b

Designs, develops, manufactures, markets, and sells computing and related products and services worldwide.

Münchener Rückversicherungs-Gesellschaft in München

Market Cap: €73.0b

Engages in the insurance and reinsurance businesses worldwide.

State Bank of India

Market Cap: ₹7.4t

Provides banking products and services in India and internationally.

McKesson

Market Cap: US$82.5b

Provides healthcare services in the United States and internationally.

Bank of Montreal

Market Cap: CA$111.8b

Provides diversified financial services primarily in North America.

Tokio Marine Holdings

Market Cap: JP¥11.9t

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

CVS Health

Market Cap: US$80.6b

Provides health solutions in the United States.

Aon

Market Cap: US$78.7b

A professional services firm, provides a range of risk and human capital solutions worldwide.

National Australia Bank

Market Cap: AU$117.6b

Provides financial services to individuals and businesses in Australia, New Zealand, Europe, Asia, the United States, and internationally.

Mizuho Financial Group

Market Cap: JP¥11.3t

Engages in banking, trust banking, securities, and other businesses related to financial services in Japan, the Americas, Europe, Asia/Oceania, and internationally.

SoftBank

Market Cap: JP¥11.2t

Engages in the telecommunication and information technology businesses in Japan.

Westpac Banking

Market Cap: AU$115.0b

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

Arthur J. Gallagher

Market Cap: US$74.3b

Provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide.

PNC Financial Services Group

Market Cap: US$73.7b

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

QNB Bank

Market Cap: ₺3.0t

Provides various banking products and services in Turkey.

Cigna Group

Market Cap: US$72.3b

Provides insurance and related products and services in the United States.

MediaTek

Market Cap: NT$2.2t

Engages in the research, development, production, manufacture, and marketing of multimedia integrated circuits (ICs) in Taiwan, rest of Asia, and internationally.

CRH

Market Cap: US$71.9b

Provides building materials solutions in Ireland, the United States, the United Kingdom, rest of Europe, and internationally.

CaixaBank

Market Cap: €60.9b

Provides various banking products and financial services in Spain and internationally.

National Grid

Market Cap: UK£52.2b

Engages in the transmission and distribution of electricity and gas.

Vistra

Market Cap: US$69.8b

Operates as an integrated retail electricity and power generation company in the United States.

Barclays

Market Cap: UK£51.7b

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

Bank of Nova Scotia

Market Cap: CA$95.5b

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

U.S. Bancorp

Market Cap: US$68.6b

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

Industrial Bank

Market Cap: CN¥488.0b

Provides banking services in the People’s Republic of China.