Estonia Software Defensive Blue Chips

Vodacom Group

Market Cap: R284.0b

Provides communications products and services.

Anhui Conch Cement

Market Cap: CN¥122.1b

Manufactures, sells, and trades in clinker and cement products in China and internationally.

Uniper

Market Cap: €14.9b

Operates as an energy company in Germany, the United Kingdom, Sweden, the rest of Europe, and internationally.

Koninklijke KPN

Market Cap: €14.9b

Provides telecommunications and information technology (IT) services in the Netherlands.

Varun Beverages

Market Cap: ₹1.6t

Manufactures, bottles, sells, and distributes beverages and value-added products under the PepsiCo brands.

TS Financial Holding

Market Cap: NT$550.8b

Provides various financial products and services.

Talen Energy

Market Cap: US$17.4b

An independent power producer and infrastructure company, produces and sells electricity, capacity, and ancillary services into wholesale power markets in the United States.

Zimmer Biomet Holdings

Market Cap: US$17.4b

Operates as a medical technology company worldwide.

JBS

Market Cap: US$17.1b

Operates as a protein and food company worldwide.

Eurobank

Market Cap: €14.6b

Provides retail, corporate and private banking, asset management, treasury, capital market, and other services in Greece, Bulgaria, Cyprus, and Luxembourg.

China Three Gorges Renewables (Group)Ltd

Market Cap: CN¥118.9b

China Three Gorges Renewables (Group) Co.,Ltd.

E.SUN Financial Holding Company

Market Cap: NT$537.8b

Offers various financial banking products and services in Taiwan.

Banco Santander-Chile

Market Cap: CL$14.7t

Provides commercial and retail banking products and services in Chile.

MACOM Technology Solutions Holdings

Market Cap: US$16.8b

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

NMBZ Holdings

Market Cap: US$2.2b

Provides various banking products and services to corporate and individual customers in Zimbabwe.

Hologic

Market Cap: US$16.7b

Engages in the development, manufacture, and supply of diagnostics products, medical imaging systems, and surgical products for women's health through early detection and treatment worldwide.

HDFC Life Insurance

Market Cap: ₹1.5t

Provides individual and group insurance solutions in India.

Sonova Holding

Market Cap: CHF 13.2b

Manufactures and sells hearing care solutions for children and adults in Switzerland, the United States, rest of the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

Bank of Baroda

Market Cap: ₹1.5t

Provides various banking products and services to individuals, government departments, and corporate customers in India and internationally.

Tenet Healthcare

Market Cap: US$16.6b

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

Powszechny Zaklad Ubezpieczen

Market Cap: zł59.4b

Provides life and non-life insurance products and services in Poland, the Baltic States, and Ukraine.

Zegona Communications

Market Cap: UK£12.2b

Provides integrated telecommunications services in Spain.

McCormick

Market Cap: US$16.4b

Manufactures, markets, and distributes herbs, spices, seasoning mixes, condiments, and other flavorful products to the food industry.

Banco de Crédito e Inversiones

Market Cap: CL$14.1t

Provides various banking products and services in Chile, United States, and Peru.

Power Assets Holdings

Market Cap: HK$126.7b

An investment holding company, engages in the generation, transmission, and distribution of electricity in Hong Kong, the United Kingdom, Australia, and internationally.

BE Semiconductor Industries

Market Cap: €13.8b

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

Cooper Companies

Market Cap: US$16.2b

Develops, manufactures, and markets contact lens wearers.

Mediobanca Banca di Credito Finanziario

Market Cap: €13.8b

Provides various banking products and services in Italy, Other European countries, the United States, Asia, and internationally.

Qatar Islamic Bank (Q.P.S.C.)

Market Cap: ر.ق58.6b

Provides corporate, retail, and investment banking products and services in Qatar and internationally.

Zimre Holdings

Market Cap: US$2.1b

Provides insurance, reinsurance, reassurance, and property management and development services in Zimbabwe, Botswana, Malawi, Mozambique, and Zambia.

Emirates Islamic Bank PJSC

Market Cap: د.إ58.9b

Provides banking products and services financing and investing instruments in the United Arab Emirates and internationally.

Attijariwafa bank

Market Cap: د.م146.2b

Provides banking products and services for retail, professionals, corporates, and institutional clients in Africa, Europe, and the Middle East.

Bank of Beijing

Market Cap: CN¥111.2b

Provides various banking services to individuals and corporates in China.

Unipol Assicurazioni

Market Cap: €13.5b

Provides insurance products and services primarily in Italy.

Bank of Hangzhou

Market Cap: CN¥110.8b

Provides various banking products and services for individuals, corporate, and small and micro businesses in China.

East West Bancorp

Market Cap: US$15.9b

Operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States.