Estonia Utilities Defensive Blue Chips

Bank of Montreal

Market Cap: CA$173.1b

Provides diversified financial services primarily in North America.

Altria Group

Market Cap: US$121.4b

Through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States.

Enel

Market Cap: €101.8b

Operates as an integrated operator in the electricity and gas industries worldwide.

Hygon Information Technology

Market Cap: CN¥786.3b

Engages in the research and development of processors, accelerators, and other computing chip products and systems in China.

Infineon Technologies

Market Cap: €100.3b

Develops, manufactures, and markets semiconductors and semiconductor-based solutions in Germany, Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, the Asia-Pacific, Japan, the United States, and the Americas.

Zurich Insurance Group

Market Cap: CHF 91.3b

Provides insurance products and related services in Europe, the Middle East, Africa, North America, Latin America, and the Asia Pacific.

ICICI Bank

Market Cap: ₹10.2t

Engages in the provision of various banking and financial services to retail and corporate customers in India and internationally.

Medtronic

Market Cap: US$106.5b

Develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients in the United States, Ireland, and internationally.

Bank of Nova Scotia

Market Cap: CA$150.1b

Provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally.

Al Rajhi Banking and Investment

Market Cap: ر.س394.8b

Provides banking and investment services in the Kingdom of Saudi Arabia and internationally.

Canadian Imperial Bank of Commerce

Market Cap: CA$148.0b

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.

AXA

Market Cap: €90.8b

Through its subsidiaries, insurance, asset management, and banking services worldwide.

CaixaBank

Market Cap: €88.8b

Provides various banking products and services for individuals and businesses in Spain, Portugal, and internationally.

State Bank of India

Market Cap: ₹9.6t

Provides banking products and services in India and internationally.

Semiconductor Manufacturing International

Market Cap: HK$787.9b

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.

PNC Financial Services Group

Market Cap: US$100.2b

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

China Yangtze Power

Market Cap: CN¥665.3b

Engages in hydropower generation business in China, Portugal, Peru, Brazil, and Pakistan.

AIA Group

Market Cap: HK$765.7b

Provides life insurance based financial services in Hong Kong.

U.S. Bancorp

Market Cap: US$96.2b

A financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States.

Barclays

Market Cap: UK£71.4b

Provides various financial services in the United Kingdom, Europe, the Americas, Africa, the Middle East, and Asia.

Monster Beverage

Market Cap: US$95.5b

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

NFiniTi

Market Cap: US$95.5b

Operates as an alcoholic beverage company that specializes in producing ready-to-drink cocktails across the Western Hemisphere.

ING Groep

Market Cap: €82.1b

Provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally.

ASE Technology Holding

Market Cap: NT$3.0t

Provides semiconductor manufacturing services in the United States, Taiwan, rest of Asia, Europe, and internationally.

McKesson

Market Cap: US$92.1b

Provides healthcare services in the United States and internationally.

HCA Healthcare

Market Cap: US$91.1b

Through its subsidiaries, provides health care services in the United States.

EssilorLuxottica Société anonyme

Market Cap: €79.3b

Designs, manufactures, and distributes ophthalmic lenses, frames, sunglasses, and instruments and equipment in North America, the Middle East, Africa, Europe, Latin America, and the Asia-Pacific.

Elevance Health

Market Cap: US$90.7b

Operates as a health benefits company in the United States.

Tokio Marine Holdings

Market Cap: JP¥14.5t

Engages in the non-life and life insurance, and financial and general businesses in Japan, the United States, and internationally.

Lloyds Banking Group

Market Cap: UK£66.9b

Provides a range of banking and financial products and services for retail and commercial customers in the United Kingdom.

Oversea-Chinese Banking

Market Cap: S$114.4b

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

Marsh & McLennan Companies

Market Cap: US$86.3b

A professional services company, provides advisory services and insurance solutions to clients in the areas of risk, strategy, and people worldwide.

NAURA Technology Group

Market Cap: CN¥582.5b

Engages in the research and development, production, sale, and technical services of semiconductors in the People's Republic of China.

Constellation Energy

Market Cap: US$85.4b

Produces and sells energy products and services in the United States.

Postal Savings Bank of China

Market Cap: HK$667.1b

Provides various banking products and services for retail and corporate customers in the People’s Republic of China.

Comcast

Market Cap: US$85.0b

Operates as a media and technology company worldwide.