Estonia Software Defensive Blue Chips

Canadian Imperial Bank of Commerce

Market Cap: CA$95.3b

A diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally.

KDDI

Market Cap: JP¥10.1t

Engages in the provision of mobile telecommunications services in Japan and internationally.

Nongfu Spring

Market Cap: HK$525.0b

Produces and sells packaged drinking water and beverage products primarily in Mainland China.

Tokyo Electron

Market Cap: JP¥9.9t

Develops, manufactures, and sells semiconductor production equipment in Japan, Europe, North America, Taiwan, China, South Korea, and internationally.

Vistra

Market Cap: US$66.9b

Operates as an integrated retail electricity and power generation company in the United States.

Wuliangye YibinLtd

Market Cap: CN¥477.8b

Manufactures and sells liquor and wine products under the Wuliangye brand in China.

Bank Central Asia

Market Cap: Rp1072.2t

Provides banking products and other financial services to individual, corporate, and small and medium enterprise customers in Indonesia and internationally.

Lloyds Banking Group

Market Cap: UK£49.0b

Provides a range of banking and financial products and services in the United Kingdom and internationally.

Semiconductor Manufacturing International

Market Cap: HK$515.3b

An investment holding company, engages in the manufacture, testing, and sale of integrated circuits wafer and various compound semiconductors in the United States, China, and Eurasia.

Industrial Bank

Market Cap: CN¥472.4b

Provides banking services in the People’s Republic of China.

Marvell Technology

Market Cap: US$65.7b

Provides data infrastructure semiconductor solutions, spanning the data center core to network edge.

Federal National Mortgage Association

Market Cap: US$64.3b

Provides financing solutions for residential mortgages in the United States.

Life Insurance Corporation of India

Market Cap: ₹5.6t

Provides life insurance products in India, Fiji, Mauritius, and the United Kingdom.

ANZ Group Holdings

Market Cap: AU$98.6b

Provides various banking and financial products and services to retail, individuals and business customers in Australia and internationally.

Nu Holdings

Market Cap: US$63.3b

Provides digital banking platform in Brazil, Mexico, Colombia, the Cayman Islands, and the United States.

Monster Beverage

Market Cap: US$63.1b

Through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally.

Siemens Healthineers

Market Cap: €52.4b

Through its subsidiaries, develops, manufactures, and sells a range of diagnostic and therapeutic products and services to healthcare providers worldwide.

Diageo

Market Cap: UK£45.2b

Engages in the production, marketing, and sale of alcoholic beverages in North America, the Europe, the Asia Pacific, Latin America and Caribbean, and the Africa.

Assicurazioni Generali

Market Cap: €51.9b

Provides various insurance solutions under the Generali brand in the Americas, Italy, rest of Europe, Africa, the Middle East, Asia, and the Oceania.

Crédit Agricole

Market Cap: €51.8b

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

Travelers Companies

Market Cap: US$59.8b

Through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States and internationally.

NatWest Group

Market Cap: UK£43.9b

Provides banking and financial products and services in the United Kingdom and internationally.

Oversea-Chinese Banking

Market Cap: S$75.9b

Provides financial services in Singapore, Malaysia, Indonesia, Greater China, rest of the Asia Pacific, and internationally.

ITC

Market Cap: ₹5.2t

Engages in the fast-moving consumer goods, paperboards, paper and packaging, and agri businesses in India and internationally.

QNB Bank

Market Cap: ₺2.4t

Provides various banking products and services in Turkey.

China CITIC Bank

Market Cap: HK$455.2b

Provides various banking products and services in the People’s Republic of China and internationally.

NXP Semiconductors

Market Cap: US$57.7b

Provides semiconductor products in China, the United States, Germany, Japan, Singapore, South Korea, Mexico, the Netherlands, Taiwan, and internationally.

América Móvil. de

Market Cap: Mex$1.1t

Provides telecommunications services in Latin America and internationally.

Truist Financial

Market Cap: US$57.3b

A financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States.

Shanghai Pudong Development Bank

Market Cap: CN¥411.3b

Shanghai Pudong Development Bank Co., Ltd.

Saudi Telecom

Market Cap: ر.س214.8b

Provides telecommunications, information, media, and digital payment services in the Kingdom of Saudi Arabia and internationally.

Japan Tobacco

Market Cap: JP¥8.4t

A tobacco company, manufactures and sells tobacco products, pharmaceuticals, and processed foods in Japan and internationally.

Saudi National Bank

Market Cap: ر.س214.1b

Through its subsidiaries, provides banking and investment management services in the Kingdom of Saudi Arabia and internationally.

Cencora

Market Cap: US$56.8b

Cencora, Inc. sources and distributes pharmaceutical products in the United States and internationally.

Aflac

Market Cap: US$56.4b

Through its subsidiaries, provides supplemental health and life insurance products.

Becton Dickinson

Market Cap: US$56.2b

Develops, manufactures, and sells medical supplies, devices, laboratory equipment, and diagnostic products for healthcare institutions, physicians, life science researchers, clinical laboratories, pharmaceutical industry, and the general public worldwide.