Estonia Consumer Services Defensive Blue Chips

Naturgy Energy Group

Market Cap: €27.3b

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

BPER Banca

Market Cap: €27.2b

Engages in the provision of banking products and services for individuals, and businesses and professionals in Italy and internationally.

Centene

Market Cap: US$31.4b

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

Qnity Electronics

Market Cap: US$31.2b

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.

Shinhan Financial Group

Market Cap: ₩47.3t

Provides financial products and services in South Korea, Vietnam, and Japan.

Ajinomoto

Market Cap: JP¥4.9t

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

Barito Renewables Energy

Market Cap: Rp545.8t

Generates and sells power through geothermal and wind resources in Indonesia.

Grupo Financiero Banorte. de

Market Cap: Mex$523.8b

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

Foshan Haitian Flavouring and Food

Market Cap: CN¥205.2b

Foshan Haitian Flavouring and Food Company Ltd.

Talanx

Market Cap: €26.1b

Provides insurance and reinsurance products and services worldwide.

Resona Holdings

Market Cap: JP¥4.8t

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

Abu Dhabi Commercial Bank PJSC

Market Cap: د.إ110.5b

Provides banking products and services in the United Arab Emirates and internationally.

Swiss Life Holding

Market Cap: CHF 23.9b

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

Veolia Environnement

Market Cap: €26.0b

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

Svenska Handelsbanken

Market Cap: SEK 277.2b

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

GE HealthCare Technologies

Market Cap: US$29.3b

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.

Credicorp

Market Cap: US$29.3b

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

Gulf Development

Market Cap: ฿956.1b

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

Amrize

Market Cap: CHF 23.2b

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

First Solar

Market Cap: US$29.1b

A solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, India, Chile, and internationally.

Tower Semiconductor

Market Cap: US$29.1b

An independent semiconductor foundry, provides technology, development, and process platforms for integrated circuits in the United States, Japan, rest of Asia, and Europe.

Muyuan Foods Group

Market Cap: CN¥196.7b

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

BE Semiconductor Industries

Market Cap: €25.1b

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

DexCom

Market Cap: US$29.0b

A medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems for the management of diabetes and metabolic health in the United States and internationally.

AXIA Energia

Market Cap: R$146.7b

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

Kraft Heinz

Market Cap: US$28.7b

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

MACOM Technology Solutions Holdings

Market Cap: US$28.6b

Provides analog semiconductor solutions for use in wireless and wireline applications across the radio frequency (RF), microwave, millimeter wave, and lightwave spectrum.

Xi'an ESWIN Material Technology

Market Cap: CN¥191.8b

Xi'an ESWIN Material Technology Co., Ltd.

George Weston

Market Cap: CA$39.4b

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

Citizens Financial Group

Market Cap: US$28.1b

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.

China Unicom (Hong Kong)

Market Cap: HK$220.3b

An investment holding company, provides telecommunications and related value-added services in the People’s Republic of China.

Seven & i Holdings

Market Cap: JP¥4.5t

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

China National Nuclear Power

Market Cap: CN¥190.0b

Engages in the investment, construction, operation, and management of nuclear power projects in the People's Republic of China.

Atmos Energy

Market Cap: US$28.1b

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

Nestlé India

Market Cap: ₹2.7t

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

Power Grid Corporation of India

Market Cap: ₹2.6t

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