Estonia Food, Beverage & Tobacco Defensive Blue Chips

Erste Group Bank

Market Cap: €31.6b

Provides a range of banking and other financial services to retail, corporate, and public sector customers.

NTPC

Market Cap: ₹3.2t

Operates as an integrated power company in India.

Skandinaviska Enskilda Banken

Market Cap: SEK 346.3b

Provides corporate, retail, investment, and private banking services.

Koninklijke Ahold Delhaize

Market Cap: €31.2b

Operates retail food stores and e-commerce in the Netherlands, the United States, and internationally.

Telstra Group

Market Cap: AU$55.7b

Provides telecommunications and information services in Australia and internationally.

FBC Holdings

Market Cap: US$4.7b

Through its subsidiaries, provides commercial and wholesale banking, mortgage financing, micro lending, reinsurance, short-term insurance, and stockbroking services in Zimbabwe.

MS&AD Insurance Group Holdings

Market Cap: JP¥5.3t

An insurance holding company, engages in the provision of insurance and financial services worldwide.

Microchip Technology

Market Cap: US$36.0b

Develops, manufactures, and sells smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia.

Consolidated Edison

Market Cap: US$36.0b

Through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States.

Humana

Market Cap: US$35.8b

Provides medical and specialty insurance products in the United States.

Talanx

Market Cap: €30.6b

Provides insurance and reinsurance products and services worldwide.

Intact Financial

Market Cap: CA$49.2b

Through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada, the United States, the United Kingdom, and internationally.

Hannover Rück

Market Cap: €30.2b

Provides reinsurance products and services in Germany, the United Kingdom, France, Europe, the United States, Asia, Australia, Africa, and internationally.

Cardinal Health

Market Cap: US$35.2b

Operates as a healthcare services and products company in the United States and internationally.

Ambev

Market Cap: R$189.4b

Through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, malt and food, other alcoholic beverages, and non-alcoholic and non-carbonated products in Brazil, Central America and Caribbean, Latin America South, and Canada.

Avenue Supermarts

Market Cap: ₹3.1t

Engages in the business of organized retail and operating supermarkets under the D-Mart brand name in India.

Chocoladefabriken Lindt & Sprüngli

Market Cap: CHF 27.5b

Engages in the manufacture and sale of chocolate products worldwide.

Danske Bank

Market Cap: DKK 218.5b

Provides various banking products and services to corporate, institutional, and international clients.

Arch Capital Group

Market Cap: US$34.1b

Provides insurance, reinsurance, and mortgage insurance products in the United States, Canada, Bermuda, the United Kingdom, Europe, and Australia.

Chunghwa Telecom

Market Cap: NT$1.0t

Operates as an integrated telecommunications service provider in Taiwan and internationally.

GE HealthCare Technologies

Market Cap: US$33.8b

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.

Shanxi Xinghuacun Fen Wine FactoryLtd

Market Cap: CN¥241.1b

Shanxi Xinghuacun Fen Wine Factory Co.,Ltd.

Imperial Brands

Market Cap: UK£25.0b

Manufactures, imports, markets, and sells tobacco and tobacco-related products in Europe, the Americas, Africa, the Asia, Australasia, and internationally.

CEZ a. s

Market Cap: Kč702.1b

Engages in the generation, distribution, trade, and sale of electricity and heat in Western, Central, and Southeastern Europe.

Prudential

Market Cap: UK£24.5b

Through its subsidiaries, provides life and health insurance, and asset management solutions to individuals in Asia and Africa.

Ping An Bank

Market Cap: CN¥234.4b

Provides commercial banking products and services for individual and corporate customers, government agencies, institutions, and other small businesses in China and internationally.

Kraft Heinz

Market Cap: US$32.8b

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

Willis Towers Watson

Market Cap: US$32.6b

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

Seven & i Holdings

Market Cap: JP¥4.8t

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

Sun Life Financial

Market Cap: CA$44.8b

A financial services company, provides asset management, wealth, insurance and health solutions to individual and institutional customers in Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia, and Bermuda.

Foshan Haitian Flavouring and Food

Market Cap: CN¥231.4b

Foshan Haitian Flavouring and Food Company Ltd.

Endesa

Market Cap: €27.7b

Engages in the generation, distribution, and sale of electricity in Spain, Portugal, France, Germany, the United Kingdom, Switzerland, Luxembourg, the Netherlands, Singapore, Italy, Morocco, and internationally.

Invest bank P.S.C

Market Cap: د.إ118.4b

A commercial bank, provides a range of financial products and services to corporate and retail customers in the United Arab Emirates and Lebanon.

Swedbank

Market Cap: SEK 301.6b

Provides various banking products and services to private and corporate customers in Sweden, Estonia, Latvia, Lithuania, Norway, the United States, Finland, Denmark, Luxembourg, and China.

Brown & Brown

Market Cap: US$31.7b

Brown & Brown, Inc. markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally.

M&T Bank

Market Cap: US$31.6b

Operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that provides retail and commercial banking products and services in the United States.