Estonia Telecom Defensive Blue Chips

Talanx

Market Cap: €30.8b

Provides insurance and reinsurance products and services worldwide.

Alcon

Market Cap: CHF 28.7b

Researches, develops, manufactures, distributes, and sells eye care products worldwide.

Shinhan Financial Group

Market Cap: ₩49.4t

Provides financial products and services in South Korea, Vietnam, and Japan.

UltraTech Cement

Market Cap: ₹3.4t

Engages in the manufacturing, marketing, and distribution of building materials in India and internationally.

Federal National Mortgage Association

Market Cap: US$35.5b

Provides financing solutions for residential mortgages in the United States.

CEZ a. s

Market Cap: Kč731.7b

Engages in the generation, distribution, trade, and sale of electricity, heat, thermal energy and other commodities in Central Europe.

SJ Semiconductor

Market Cap: CN¥237.5b

Operates as an integrated circuit wafer-level advanced packaging and testing company in China and internationally.

ITC

Market Cap: ₹3.4t

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

Hannover Rück

Market Cap: €30.1b

Provides reinsurance products and services in Germany, the United Kingdom, France, Europe, the United States, Asia, Australia, Africa, and internationally.

Vulcan Materials

Market Cap: US$35.1b

Produces and supplies construction aggregates in the United States.

Kroger

Market Cap: US$34.5b

Operates as a food and drug retailer in the United States.

M&T Bank

Market Cap: US$34.4b

Operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that provides retail and commercial banking products and services in the United States.

Huntington Bancshares

Market Cap: US$34.4b

Operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services.

Prudential

Market Cap: UK£25.1b

Through its subsidiaries, provides life and health insurance, and asset management solutions to individuals in Asia and Africa.

BPER Banca

Market Cap: €29.2b

Engages in the provision of banking products and services for individuals, and businesses and professionals in Italy and internationally.

DexCom

Market Cap: US$34.0b

A medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems for the management of diabetes and metabolic health in the United States and internationally.

Capitec

Market Cap: R541.3b

Through its subsidiaries, provides various banking products and services in South Africa.

Arch Capital Group

Market Cap: US$33.7b

Provides insurance, reinsurance, and mortgage insurance products in the United States, Canada, Bermuda, the United Kingdom, Europe, and Australia.

Intact Financial

Market Cap: CA$46.4b

Through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada, the United States, the United Kingdom, and internationally.

Resona Holdings

Market Cap: JP¥5.3t

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

Hua Hong Grace Semiconductor

Market Cap: HK$263.6b

An investment holding company, engages in the manufacture and sale of semiconductor products in China, North America, Asia, and Europe.

Bank of Ningbo

Market Cap: CN¥224.9b

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

GE HealthCare Technologies

Market Cap: US$33.5b

Engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally.

Chunghwa Telecom

Market Cap: NT$1.1t

Operates as an integrated telecommunications service provider in Taiwan and internationally.

Bank Hapoalim B.M

Market Cap: ₪99.3b

Provides various banking and financial services in Israel, North America, Europe, and internationally.

ResMed

Market Cap: US$33.0b

Engages in the digital health and cloud-connected medical devices business in the United States and internationally.

Ping An Bank

Market Cap: CN¥221.4b

Provides commercial banking products and services for individual and corporate customers, government agencies, institutions, and other small businesses in China and internationally.

Abu Dhabi Commercial Bank PJSC

Market Cap: د.إ121.0b

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

Heidelberg Materials

Market Cap: €28.1b

Produces and distributes cement, aggregates, ready-mixed concrete, and asphalt worldwide.

Advanced Info Service

Market Cap: ฿1.1t

Operates as a telecommunications company primarily in Thailand.

Bank of Jiangsu

Market Cap: CN¥219.1b

Provides various banking products and services in China.

Fairfax Financial Holdings

Market Cap: CA$44.7b

Through its subsidiaries, provides property and casualty insurance and reinsurance, and investment management services in Canada, the United States, the Middle East and Asia, and internationally.

Ajinomoto

Market Cap: JP¥5.2t

Engages in the seasonings and foods, frozen foods, and healthcare and other businesses in Japan and internationally.

Standard Bank Group

Market Cap: R514.0b

Provides financial products and services in South Africa and internationally.

Naturgy Energy Group

Market Cap: €27.4b

Engages in the supply, liquefaction, regasification, transport, storage, distribution, and sale of gas.

Swiss Life Holding

Market Cap: CHF 25.5b

Provides life, pensions, and financial solutions for private and corporate clients.