Estonia Software Defensive Blue Chips

Universal Health Services

Market Cap: US$12.9b

Through its subsidiaries, owns and operates acute care hospitals, and outpatient and behavioral health care facilities.

Tata Consumer Products

Market Cap: ₹1.2t

Produces, distributes, and trades in food products in India, the United States, the United Kingdom, and internationally.

RenaissanceRe Holdings

Market Cap: US$12.9b

Provides reinsurance and insurance products in the United States and internationally.

Henan Shuanghui Investment & DevelopmentLtd

Market Cap: CN¥89.7b

Henan Shuanghui Investment & Development Co.,Ltd.

Fresenius Medical Care

Market Cap: €11.0b

Provides dialysis and related services for individuals with renal diseases in Germany, the United States, and internationally.

ING Bank Slaski

Market Cap: zł46.4b

Together with our subsidiaries, provides various banking products and services for retail clients and businesses in Poland.

Coca-Cola Consolidated

Market Cap: US$12.8b

Manufactures, markets, and distributes nonalcoholic beverages primarily products of The Coca-Cola Company in the United States.

Adani Energy Solutions

Market Cap: ₹1.2t

Generates, transmits, and distributes power in India.

VeriSilicon Microelectronics (Shanghai)

Market Cap: CN¥89.4b

Provides platform-based custom silicon and semiconductor IP licensing services in China and internationally.

S.P.E.E.H. Hidroelectrica

Market Cap: RON 56.0b

Produces and supplies hydro, wind, and energy electricity in Romania.

CNA Financial

Market Cap: US$12.7b

An insurance holding company, primarily provides commercial property and casualty insurance products in the United States and internationally.

Guangdong Haid Group

Market Cap: CN¥88.7b

Research, develops, designs, produces, sells, and services animal feed products in China and internationally.

Indus Towers

Market Cap: ₹1.1t

A telecom infrastructure company, engages in the operation and maintenance of wireless communication towers and related infrastructures for various telecom service providers in India, Nigeria, Uganda, and Zambia.

Krung Thai Bank

Market Cap: ฿398.3b

Engages in commercial banking business in Thailand and internationally.

Globus Medical

Market Cap: US$12.7b

A medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally.

Insurance Australia Group

Market Cap: AU$18.9b

Insurance Australia Group Limited underwrites general insurance products and provides investment management services in Australia and New Zealand.

GD Power DevelopmentLtd

Market Cap: CN¥88.1b

Operates as a power generation company in China.

Amkor Technology

Market Cap: US$12.6b

Provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, and the Asia Pacific.

Hormel Foods

Market Cap: US$12.6b

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

James Hardie Industries

Market Cap: AU$18.8b

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

MACOM Technology Solutions Holdings

Market Cap: US$12.6b

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

Suncorp Group

Market Cap: AU$18.8b

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

BB Seguridade Participações

Market Cap: R$67.3b

Through its subsidiaries operates in the insurance, pension plans, and bonds, businesses in Brazil.

BDO Unibank

Market Cap: ₱742.0b

Provides various banking products and services to individuals and corporations in the Philippines and internationally.

Shanghai Rural Commercial Bank

Market Cap: CN¥87.1b

Engages in commercial banking business in China.

Emirates Integrated Telecommunications Company PJSC

Market Cap: د.إ45.8b

Provides mobile, fixed services, broadband connectivity, and IPTV solutions to homes and businesses in the United Arab Emirates.

Indian Bank

Market Cap: ₹1.1t

Provides various banking products and services.

Admiral Group

Market Cap: UK£9.3b

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

Penumbra

Market Cap: US$12.4b

Designs, develops, manufactures, and markets medical devices in the United States and internationally.

IDBI Bank

Market Cap: ₹1.1t

Provides banking and financial solutions to retail and corporate customers in India.

mBank

Market Cap: zł44.6b

Provides various banking and financial services in Poland, the Czech Republic, Slovakia, and internationally.

Absa Group

Market Cap: R202.9b

Provides retail and business banking, corporate and investment banking, insurance, financial, and wealth management products and services in South Africa and internationally.

Commercial Bank for Investment and Development of Vietnam

Market Cap: ₫323.3t

Provides various banking products and services for individuals, corporate customers, and financial institutions in Vietnam.

Align Technology

Market Cap: US$12.2b

Provides Invisalign clear aligners, Vivera retainers, and iTero intraoral scanners and services in the United States, Switzerland, and internationally.

True Corporation

Market Cap: ฿383.5b

Provides telecommunications and value-added services in Thailand.

First Horizon

Market Cap: US$12.2b

Operates as the bank holding company for First Horizon Bank that provides various financial services.