Estonia Utilities Defensive Blue Chips

Carrefour

Market Cap: €11.5b

Operates as a food retailer in France, Spain, Belgium, Poland, Romania, Brazil, Argentina, the Middle East, Africa, Asia, and internationally.

JD Health International

Market Cap: HK$102.2b

An investment holding company, engages in the operation of an online healthcare platform in the People’s Republic of China.

Origin Energy

Market Cap: AU$18.9b

An integrated energy company, engages in the exploration and production of natural gas, electricity generation, wholesale and retail sale of electricity and gas, and sale of liquefied natural gas in Australia and internationally.

Insurance Australia Group

Market Cap: AU$18.8b

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

Banque Saudi Fransi

Market Cap: ر.س48.6b

Provides banking and financial services for individuals and businesses in the Kingdom of Saudi Arabia and internationally.

SG Micro

Market Cap: CN¥87.6b

Engages in the development, manufacturing and sales of comprehensive analog and mixed-signal integrated-circuit (IC) solutions in Mainland China, Hong Kong, Taiwan, and internationally.

Circuit Fabology Microelectronics Equipment

Market Cap: CN¥87.4b

Circuit Fabology Microelectronics Equipment Co., Ltd.

Smith & Nephew

Market Cap: UK£9.7b

Develops, manufactures, markets, and sells medical devices and services in the United Kingdom, the United States, and internationally.

Fisher & Paykel Healthcare

Market Cap: NZ$22.7b

Designs, manufactures, markets, and sells medical device products and systems in North America, Europe, the Asia Pacific, and internationally.

McCormick

Market Cap: US$12.8b

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

Brown-Forman

Market Cap: US$12.8b

Manufactures, distills, bottles, imports, exports, markets, and sells a variety of alcohol beverages.

ROHM

Market Cap: JP¥2.1t

Manufactures and sells electronic components worldwide.

United Utilities Group

Market Cap: UK£9.6b

Provides water and wastewater services in the United Kingdom.

Osaka Gas

Market Cap: JP¥2.1t

Provides natural gas, electricity, and other energy products and services in Japan and internationally.

CNA Financial

Market Cap: US$12.7b

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

MTN Nigeria Communications

Market Cap: ₦17.4t

Provides broadband fixed wireless access, telecommunication, and mobile financial services to consumer, commercial, and institutional customers in Nigeria.

Piraeus Bank

Market Cap: €11.1b

Provides various banking products and services in Greece, Europe, and internationally.

Tokyo GasLtd

Market Cap: JP¥2.0t

Engages in the production, supply, and sale of city gas and LNG in Japan.

Etihad Etisalat

Market Cap: ر.س47.1b

Through its subsidiaries, establishes and operates mobile wireless telecommunication and fiber optic networks in the Kingdom of Saudi Arabia.

SK Telecom

Market Cap: ₩19.3t

Engages in the provision of wireless telecommunication services in South Korea.

Fresenius Medical Care

Market Cap: €11.0b

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

Fidelity National Financial

Market Cap: US$12.5b

Provides various insurance products in the United States.

Hangzhou Silan Microelectronics

Market Cap: CN¥84.8b

Engages in the research, design, development, production, and sale of electronic components in China.

Tele2

Market Cap: SEK 121.2b

Provides fixed and mobile connectivity and entertainment services in Sweden, Lithuania, Latvia, and Estonia.

Penumbra

Market Cap: US$12.4b

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

Chongqing Genori Technology

Market Cap: CN¥84.6b

Manufactures core components and materials.

Banque Cantonale Vaudoise

Market Cap: CHF 10.1b

Engages in the provision of various financial services in Vaud Canton and rest of Switzerland, the European Union, North America, and internationally.

Jerónimo Martins SGPS

Market Cap: €10.9b

Operates in the food distribution sector in Portugal, Poland, Colombia, Slovakia, and internationally.

Turkiye Garanti Bankasi

Market Cap: ₺577.9b

Provides various banking products and services in Turkey.

Absa Group

Market Cap: R203.7b

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

Canara Bank

Market Cap: ₹1.2t

Provides various banking products and services in India and internationally.

Shenyang Fortune Precision Equipment

Market Cap: CN¥83.8b

Shenyang Fortune Precision Equipment Co., Ltd.

BUA Foods

Market Cap: ₦16.9t

Processes, manufactures, produces, and distributes food materials in Nigeria.

Dosilicon

Market Cap: CN¥83.5b

Engages in the design, research and development, and sale of semiconductor chips worldwide.

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.

Webster Financial

Market Cap: US$12.2b

Operates as the bank holding company for Webster Bank, National Association that provides various financial products and services to businesses, individuals, and families in the United States.