Estonia Software Defensive Blue Chips

Power Grid Corporation of India

Market Cap: ₹2.4t

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

Nanya Technology

Market Cap: NT$825.8b

Research, develops, manufactures, and sells semiconductor products in Taiwan, Japan, Malaysia, China, the United States, Thailand, Germany, Singapore, Poland and internationally.

First Solar

Market Cap: US$26.2b

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

Markel Group

Market Cap: US$26.0b

Through its subsidiaries, engages in the insurance business in the United States and internationally.

Bank of Jiangsu

Market Cap: CN¥180.6b

Provides various banking products and services in China.

EnBW Energie Baden-Württemberg

Market Cap: €22.0b

Operates as an integrated energy company in Germany, Rest of Europe, and internationally.

Veolia Environnement

Market Cap: €21.9b

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

STMicroelectronics

Market Cap: €21.9b

Designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

China Tower

Market Cap: HK$200.3b

Provides telecommunication tower infrastructure services in the People's Republic of China.

Woolworths Group

Market Cap: AU$37.5b

Operates retail stores in Australia and New Zealand.

W. R. Berkley

Market Cap: US$25.7b

An insurance holding company, operates as a commercial line writer worldwide.

STERIS

Market Cap: US$25.6b

Provides infection prevention products and services worldwide.

American Water Works Company

Market Cap: US$25.6b

Through its subsidiaries, provides water and wastewater services in the United States.

GlobalFoundries

Market Cap: US$25.5b

A semiconductor foundry, provides range of mainstream wafer fabrication services and technologies worldwide.

ON Semiconductor

Market Cap: US$25.4b

Provides intelligent sensing and power solutions in Hong Kong, Singapore, the United Kingdom, the United States, and internationally.

BNP Paribas Fortis

Market Cap: €21.6b

Provides various financial services in Belgium, Turkey, Luxembourg, and internationally.

Cincinnati Financial

Market Cap: US$25.2b

Provides property casualty insurance products in the United States.

Dollar Tree

Market Cap: US$25.2b

Operates retail discount stores under the Dollar Tree and Dollar Tree Canada brands in the United States and Canada.

Credo Technology Group Holding

Market Cap: US$25.1b

Provides various high-speed connectivity solutions for optical and electrical Ethernet, and PCIe applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally.

Dr. Sulaiman Al Habib Medical Services Group

Market Cap: ر.س93.5b

Provides private health and ancillary services.

Regions Financial

Market Cap: US$24.9b

A financial holding company, provides various banking and related products and services to individual and corporate customers.

Resona Holdings

Market Cap: JP¥3.9t

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

VERBUND

Market Cap: €21.1b

Generates, trades in, and sells electricity to energy exchange markets, traders, electric utilities and industrial companies, and household and commercial customers in Austria and internationally.

BT Group

Market Cap: UK£18.3b

Provides communications products and services in the United Kingdom, Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

Huaneng Lancang River Hydropower

Market Cap: CN¥170.8b

Engages in the development, construction, operation, and management of hydropower and new energy power generation projects.

Banco Santander (Brasil)

Market Cap: R$129.1b

Provides various banking products and services to individuals, small and medium enterprises, and corporate customers in Brazil and internationally.

Inner Mongolia Yili Industrial Group

Market Cap: CN¥169.0b

Inner Mongolia Yili Industrial Group Co., Ltd.

Banco do Brasil

Market Cap: R$127.9b

Provides banking products and services for individuals, companies, and public sectors in Brazil and internationally.

Banco de Crédito del Perú

Market Cap: S/81.1b

Provides banking products and services to individuals, small and medium-sized enterprises (SME), and companies in Peru, Panama, and the United States.

CLP Holdings

Market Cap: HK$186.7b

An investment holding company, engages in the generation, retail, transmission, and distribution of electricity in Hong Kong, Mainland China, India, Thailand, Taiwan, and Australia.

KeyCorp

Market Cap: US$23.9b

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

Sigma Healthcare

Market Cap: AU$34.7b

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

Luzhou LaojiaoLtd

Market Cap: CN¥165.4b

Produces and sells alcoholic products in China and internationally.

AIB Group

Market Cap: €19.8b

Provides banking and financial products and services to retail, business, and corporate customers in the Republic of Ireland, the United Kingdom, and internationally.

China Minsheng Banking

Market Cap: CN¥161.9b

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

Casey's General Stores

Market Cap: US$23.2b

Operates convenience stores under the Casey's and Casey’s General Store names in the United States.