Estonia Food, Beverage & Tobacco Defensive Blue Chips

American Financial Group

Market Cap: US$11.2b

An insurance holding company, provides specialty property and casualty insurance products in the United States.

Banco Santander-Chile

Market Cap: CL$10.8t

Provides commercial and retail banking products and services in Chile.

Osaka Gas

Market Cap: JP¥1.7t

Provides gas, electricity, and other energy products and services in Japan and internationally.

Orkla

Market Cap: NOK 112.3b

Operates as an industrial investment company within brands and consumer-oriented businesses in Norway, Sweden, Denmark, Finland, Iceland, the Baltics, rest of Europe, and internationally.

Tsingtao Brewery

Market Cap: HK$86.7b

Engages in the production, distribution, wholesale, and retail sale of beer products in Mainland China, Hong Kong, Macau, and internationally.

Anhui Gujing Distillery

Market Cap: CN¥79.7b

Engages in the production and sale of distilled wine in the People’s Republic of China and internationally.

Acciona

Market Cap: €9.5b

Engages in the energy, infrastructure, and other businesses in Spain and internationally.

BKW

Market Cap: CHF 8.9b

An international energy and infrastructure company, plans, builds, and operates infrastructure to produce and supply energy to businesses, households, and the public sector in Switzerland, Germany, Italy, France, and internationally.

BE Semiconductor Industries

Market Cap: €9.5b

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

Airtel Africa

Market Cap: UK£8.1b

Provides telecommunications and mobile money services in Nigeria, East Africa, and Francophone Africa.

Oklo

Market Cap: US$11.0b

Develops advanced fission power plants to provide clean, reliable, and affordable energy at scale to the customers in the United States.

Canara Bank

Market Cap: ₹961.6b

Provides various banking products and services in India and internationally.

Industrial Bank of Korea

Market Cap: ₩15.3t

Operates as a small and medium-sized enterprise (SME) financing bank in Korea and internationally.

Raiffeisen Bank International

Market Cap: €9.4b

Offers banking services to corporate, private, and institutional customers.

Enel Américas

Market Cap: CL$10.6t

Generates, transmits, and distributes electricity in Brazil, Colombia, Central America, Argentina, and Peru.

Albertsons Companies

Market Cap: US$10.9b

Through its subsidiaries, operates in the food and drug retail industry in the United States.

Huadong Medicine

Market Cap: CN¥77.5b

Engages in the wholesale and retail of pharmaceutical products in China and internationally.

Assurant

Market Cap: US$10.8b

Provides protection services to connected devices, homes, and automobiles in North America, Latin America, Europe, and the Asia Pacific.

Adani Energy Solutions

Market Cap: ₹947.4b

Generates, transmits, and distributes power in India.

Alchip Technologies

Market Cap: NT$330.2b

Research, designs, and manufactures fabless application specific integrated circuits (ASIC) and system on a chip (SOC)in Japan, Taiwan, and China.

Banque Saudi Fransi

Market Cap: ر.س40.3b

Provides banking and financial services for individuals and businesses in the Kingdom of Saudi Arabia and internationally.

Manila Electric

Market Cap: ₱614.3b

Manila Electric Company holds a congressional franchise to construct, operate, and maintain an electric distribution system in the Philippines.

Waaree Energies

Market Cap: ₹938.1b

Manufactures and exports solar photovoltaic modules for residential, commercial, industrial, and institutional projects.

Bank of Chengdu

Market Cap: CN¥76.5b

Provides various commercial banking products and services in China.

Pilgrim's Pride

Market Cap: US$10.7b

Produces, processes, markets, and distributes fresh, frozen, and value-added chicken and pork products to retailers, distributors, and foodservice operators in the United States, Europe, and Mexico.

Bajaj Housing Finance

Market Cap: ₹936.0b

Provides housing finance services in India.

Bank of the Philippine Islands

Market Cap: ₱610.8b

Provides various financial products and services to retail and corporate clients in the Philippines.

Sanlam

Market Cap: R188.5b

Provides various financial solutions to individual, business, and institutional clients in South Africa, rest of Africa, Asia, and internationally.

Marico

Market Cap: ₹933.4b

Manufactures and sells branded consumer products in India, Bangladesh, Vietnam, and internationally.

ICICI Lombard General Insurance

Market Cap: ₹931.2b

Provides various general insurance products and services in India.

Kinsale Capital Group

Market Cap: US$10.6b

Engages in the provision of property and casualty insurance products in the United States.

KT&G

Market Cap: ₩14.8t

Engages in the production, distribution, and sale of tobacco products in South Korea, Europe, and internationally.

United Spirits

Market Cap: ₹925.1b

Manufactures, sells, and distributes alcoholic beverages and other allied spirits in India and internationally.

mBank

Market Cap: zł38.6b

Provides various banking and financial services in Poland, the Czech Republic, Slovakia, and internationally.

Redeia Corporación

Market Cap: €9.1b

Engages in the electricity transmission, and system operation and management of the transmission network for the electricity system in Spain and internationally.

InnoScience (Suzhou) Technology Holding

Market Cap: HK$81.8b

InnoScience (Suzhou) Technology Holding Co., Ltd.