Estonia Consumer Services Defensive Blue Chips

Heineken Holding

Market Cap: €18.9b

Engages in brewing and selling beer and cider in the Netherlands, Europe, the Americas, Africa & Middle East, Asia Pacific and internationally.

Dr. Sulaiman Al Habib Medical Services Group

Market Cap: ر.س81.3b

Provides private health and support services in the Kingdom of Saudi Arabia.

MTN Group

Market Cap: R349.0b

Provides mobile telecommunications services in South Africa, Nigeria, South and East Africa, West and Central Africa, and the Middle East and North Africa.

Bank Mandiri (Persero)

Market Cap: Rp385.5t

Provides various banking products and services to individuals and businesses in Indonesia, Singapore, Malaysia, Hong Kong, Timor Leste, Shanghai, England, and the Cayman Islands.

BE Semiconductor Industries

Market Cap: €18.7b

Develops, manufactures, markets, sells, and services semiconductor assembly equipment for the semiconductor and electronics industries in the Netherlands, Switzerland, Austria, Singapore, Malaysia, and internationally.

Bunge Global

Market Cap: US$21.4b

Operates as an agribusiness and food company worldwide.

Banco Santander (Brasil)

Market Cap: R$110.9b

Provides various banking products and services to individuals, small and medium enterprises, and corporate customers in Brazil and internationally.

Global Unichip

Market Cap: NT$687.5b

Engages in the research and development, production, testing, and sale of embedded memory and logic components, analog components, cell libraries, and EDA tools for various IC applications.

Riyad Bank

Market Cap: ر.س79.9b

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

Cellnex Telecom

Market Cap: €18.2b

Engages in the management of terrestrial telecommunications infrastructures in France, Italy, the United Kingdom, Spain, Poland, the Netherlands, Portugal, Switzerland, Denmark, Sweden, Ireland, and Austria.

CIMB Group Holdings Berhad

Market Cap: RM 85.6b

Provides various banking products and services in Malaysia and internationally.

Banco do Brasil

Market Cap: R$108.5b

Provides banking products and services for individuals, companies, and public sectors in Brazil and internationally.

Tenet Healthcare

Market Cap: US$20.9b

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

Yihai Kerry Arawana Holdings

Market Cap: CN¥140.6b

Engages in the agriculture and food processing businesses in China.

Fortum Oyj

Market Cap: €18.1b

Engages in the generation and sale of electricity and heat to private and business customers in Finland, Sweden, Norway, Poland, and internationally.

China Tower

Market Cap: HK$162.8b

Provides telecommunication tower infrastructure services in the People's Republic of China.

JCET Group

Market Cap: CN¥139.9b

Provides integrated-circuit back-end and technology services in China, South Korea, the United States, and internationally.

Banco de Chile

Market Cap: CL$18.9t

Provides commercial banking services in Chile.

Bank of Nanjing

Market Cap: CN¥138.8b

Engages in the provision of various financial products and services in China.

Mizrahi Tefahot Bank

Market Cap: ₪61.3b

Provides various banking services in Israel and internationally.

Bank of Ireland Group

Market Cap: €17.8b

Provides banking and other financial services in the Republic of Ireland, the United Kingdom, and internationally.

Adani Energy Solutions

Market Cap: ₹2.0t

Generates, transmits, and distributes power in India.

Jentech Precision Industrial

Market Cap: NT$655.9b

Manufactures, processes, and trades in precision tooling, and electronic parts and components in Taiwan and China.

Straumann Holding

Market Cap: CHF 16.4b

Provides tooth replacement and orthodontic solutions in Switzerland, the United States, China, Germany, Brazil, Japan, France, and internationally.

MPI

Market Cap: NT$646.7b

Manufactures, processes, repairs, imports/exports, and trades in semiconductor manufacturing and testing equipment in Taiwan, China, the United States, Singapore, Korea, and internationally.

SiTime

Market Cap: US$20.1b

Engages in the design, development, and sale of silicon timing systems solutions in Hong Kong, Taiwan, the United States, Singapore, and internationally.

Hwatsing Technology

Market Cap: CN¥135.3b

Engages in the research, development, production, sales, and technical services of semiconductor equipment in China and internationally.

Luzhou LaojiaoLtd

Market Cap: CN¥135.1b

Produces and sells alcoholic products in China and internationally.

Banco de Sabadell

Market Cap: €17.4b

Provides banking products and services in Spain, the United Kingdom, and Mexico.

China United Network Communications

Market Cap: CN¥134.4b

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

Erste Bank Polska

Market Cap: zł74.4b

Provides various banking products and services for individuals, small or medium-sized enterprises, corporate clients, and public sector institutions.

MKS

Market Cap: US$19.9b

Provides foundational technology solutions to semiconductor manufacturing, electronics and packaging, and specialty industrial applications in the United States, China, South Korea, Japan, Taiwan, Singapore, and internationally.

Tyson Foods

Market Cap: US$19.8b

Operates as a food company worldwide.

Pernod Ricard

Market Cap: €17.1b

Produces and sells wines and spirits worldwide.

CK Infrastructure Holdings

Market Cap: HK$153.7b

An infrastructure company, invests in, develops, and operates infrastructure businesses in Hong Kong, Mainland China, the United Kingdom, Continental Europe, Australia, New Zealand, Canada, and the United States.

Bank of Shanghai

Market Cap: CN¥131.7b

Provides various banking products and services in China.