Estonia Materials Defensive Blue Chips

Israel Discount Bank

Market Cap: ₪38.3b

Provides various banking and financial services in Israel, Europe, and North America.

Guangxi Guiguan Electric PowerCo.Ltd

Market Cap: CN¥91.8b

Engages in the generation and sale of electricity in China.

Admiral Group

Market Cap: UK£10.1b

A financial services company, provides insurance and personal lending products in the United Kingdom, France, Italy, and Spain.

National Silicon Industry Group

Market Cap: CN¥91.5b

National Silicon Industry Group Co., Ltd.

Hua Nan Financial Holdings

Market Cap: NT$424.5b

Provides financial services in Taiwan and internationally.

HDFC Life Insurance

Market Cap: ₹1.3t

Provides individual and group insurance solutions in India.

Union Bank of India

Market Cap: ₹1.3t

Provides banking products and services in India.

Metro

Market Cap: CA$18.6b

Through its subsidiaries, operates as a retailer, franchisor, distributor, and manufacturer in the food and pharmaceutical sectors in Canada.

United Utilities Group

Market Cap: UK£10.0b

Provides water and wastewater services in the United Kingdom.

Wens Foodstuff Group

Market Cap: CN¥91.0b

Engages in the agricultural and animal husbandry businesses in China and internationally.

Reinsurance Group of America

Market Cap: US$13.4b

Provides life and health, and asset-intensive reinsurance in the United States, Latin America, Canada, Europe, the Middle East, Africa, Asia, and Australia.

Origin Energy

Market Cap: AU$18.7b

An integrated energy company, engages in the exploration and production of natural gas, electricity generation, wholesale and retail sale of electricity and gas, and sale of liquefied natural gas in Australia and internationally.

Tokyo GasLtd

Market Cap: JP¥2.1t

Engages in the production, supply, and sale of city gas and LNG in Japan.

Mashreqbank PSC

Market Cap: د.إ48.9b

Provides various banking and financial services to individuals and corporates.

Jerónimo Martins SGPS

Market Cap: €11.4b

Operates in the food distribution sector in Portugal, Poland, Colombia, Slovakia, and internationally.

James Hardie Industries

Market Cap: AU$18.5b

Engages in the manufacture and sale of fiber cement, fiber gypsum, and cement bonded boards in the United States, Australia, Europe, and New Zealand.

ROHM

Market Cap: JP¥2.1t

Manufactures and sells electronic components worldwide.

Carrefour

Market Cap: €11.3b

Operates as a food retailer in France, Spain, Belgium, Poland, Romania, Brazil, Argentina, the Middle East, Africa, Asia, and internationally.

Suncorp Group

Market Cap: AU$18.5b

Provides insurance products to retail, corporate, and commercial customers in Australia and New Zealand.

SCREEN Holdings

Market Cap: JP¥2.1t

Develops, manufactures, and markets semiconductor production equipment in Japan, Taiwan, South Korea, China, the United States, Europe, and internationally.

Britannia Industries

Market Cap: ₹1.3t

Manufactures and sells various food products in India and internationally.

Everest Group

Market Cap: US$13.2b

Together with subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally.

Unum Group

Market Cap: US$13.2b

Provides financial protection benefit solutions in the United States, the United Kingdom, and Poland.

Piraeus Bank

Market Cap: €11.2b

Provides various banking products and services in Greece, Europe, and internationally.

Nexchip Semiconductor

Market Cap: CN¥88.6b

Engages in the research, development, production, and sale of integrated circuit-related products in China and internationally.

Harel Insurance Investments & Financial Services

Market Cap: ₪36.9b

Offers insurance and financial services in Israel, Europe, and internationally.

Fisher & Paykel Healthcare

Market Cap: NZ$21.9b

Designs, manufactures, markets, and sells medical device products and systems in North America, Europe, the Asia Pacific, and internationally.

Tele2

Market Cap: SEK 120.2b

Provides fixed and mobile connectivity and entertainment services in Sweden, Lithuania, Latvia, and Estonia.

Etihad Etisalat

Market Cap: ر.س48.8b

Through its subsidiaries, establishes and operates mobile wireless telecommunication and fiber optic networks in the Kingdom of Saudi Arabia.

Uni-President Enterprises

Market Cap: NT$408.0b

Engages in the manufacture and sale of beverages and instant noodles in Taiwan, China, and Southeast Asia.

Hormel Foods

Market Cap: US$13.0b

Develops, processes, and distributes various meat, nuts, and other food products to foodservice, convenience store, and commercial customers in the United States and internationally.

CP ALL

Market Cap: ฿421.1b

Operates convenience stores under the 7-Eleven name to other retailers primarily in Thailand, Malaysia, and internationally.

Banque Cantonale Vaudoise

Market Cap: CHF 10.1b

Engages in the provision of various financial services in Vaud Canton and rest of Switzerland, the European Union, North America, and internationally.

Osaka Gas

Market Cap: JP¥2.1t

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

Onto Innovation

Market Cap: US$12.9b

Engages in the design, development, manufacture, and support of process control tools that perform macro-defect inspection and metrology in the United States, Taiwan, South Korea, Japan, China, Southeast Asia, Asia, and Europe.

Punjab National Bank

Market Cap: ₹1.2t

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