Estonia Retail Defensive Blue Chips

New China Life Insurance

Market Cap: CN¥162.1b

Provides life insurance products and services to individuals and institutions in China.

Inner Mongolia Yili Industrial Group

Market Cap: CN¥161.4b

Inner Mongolia Yili Industrial Group Co., Ltd.

Terumo

Market Cap: JP¥3.8t

Engages in the manufacture and sale of medical products and equipment in Japan, Europe, China, the United States, Asia, and internationally.

Hana Financial Group

Market Cap: ₩33.3t

Through its subsidiaries, provides financial services in South Korea, Hong Kong, Singapore, the United States, Japan, China, Indonesia, the United Kingdom, Canada, and internationally.

Unipol Assicurazioni

Market Cap: €20.3b

Provides insurance products and services primarily in Italy.

Sigma Healthcare

Market Cap: AU$33.4b

Operates as a retail pharmacy franchisor and pharmaceutical wholesale and distributor to community pharmacies primarily in Australia.

First Solar

Market Cap: US$23.6b

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

Global Unichip

Market Cap: NT$754.5b

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.

KeyCorp

Market Cap: US$23.6b

Operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States.

NN Group

Market Cap: €20.1b

A financial services company, provides life and non-life insurance products in the Netherlands and internationally.

VERBUND

Market Cap: €20.0b

Generates, trades, and sells electricity in Austria, Germany, France, Romania, Spain, and Luxembourg.

Brown & Brown

Market Cap: US$23.2b

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

QBE Insurance Group

Market Cap: AU$32.5b

Engages in underwriting general insurance and reinsurance risks in the Australia Pacific, North America, and internationally.

US Foods Holding

Market Cap: US$23.1b

US Foods Holding Corp., together with its subsidiaries, markets, sells, and distributes fresh, frozen, and dry food and non-food products to foodservice customers in the United States.

Raiffeisen Bank International

Market Cap: €19.7b

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

Coca-Cola FEMSA. de

Market Cap: US$23.0b

A franchise bottler, produces, markets, sells, and distributes Coca-Cola trademarked beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Brazil, Argentina, and Uruguay.

Loews

Market Cap: US$23.0b

Through its subsidiaries, provides commercial property and casualty insurance in the United States and internationally.

Entegris

Market Cap: US$23.0b

Provides advanced materials and process solutions for the semiconductor and other high-technology industries in North America, Taiwan, South Korea, Japan, China, Europe, and Southeast Asia.

Terna

Market Cap: €19.5b

Provides electricity transmission and dispatching services in Italy, other Euro-area countries, and internationally.

Abu Dhabi Islamic Bank PJSC

Market Cap: د.إ83.7b

Provides banking, financing, and investing services in the United Arab Emirates, rest of the Middle East, and internationally.

Suzhou Centec Communications

Market Cap: CN¥152.9b

Engages in the research, design, and sale of Ethernet switching chips and related products in China and internationally.It offers ethernet switch and ethernet transceiver PHY silicon; and ethernet switches, as well as network operation systems.

STERIS

Market Cap: US$22.7b

Provides infection prevention products and services in the United States, Ireland, and internationally.

Markel Group

Market Cap: US$22.5b

Engages in the insurance business in the United States, the United Kingdom, Bermuda, Germany, rest of the European Union, Canada, and the Asia Pacific.

Coca-Cola HBC

Market Cap: UK£16.5b

Engages in the production, sale, and distribution of non-alcoholic ready-to-drink beverages under franchise in Switzerland, West Coast of Ireland, Central and Eastern Europe, Nigeria, and internationally.

Constellation Brands

Market Cap: US$22.4b

Produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy.

MACOM Technology Solutions Holdings

Market Cap: US$22.4b

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

China Unicom (Hong Kong)

Market Cap: HK$174.3b

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

Dr. Sulaiman Al Habib Medical Services Group

Market Cap: ر.س83.1b

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

MTN Group

Market Cap: R354.6b

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

China Minsheng Banking

Market Cap: CN¥147.8b

Provides banking products and services in the People's Republic of China.

Bunge Global

Market Cap: US$22.0b

Operates as an agribusiness and food company worldwide.

Bank of Nanjing

Market Cap: CN¥147.4b

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

Coles Group

Market Cap: AU$30.8b

Operates as a retailer in Australia.

QNB Bank

Market Cap: ₺1.0t

Provides various banking and financial services in Turkey.

Riyad Bank

Market Cap: ر.س81.7b

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

Tenet Healthcare

Market Cap: US$21.8b

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