Croatian Commercial Services Defensive Blue Chips

mBank

Market Cap: zł38.7b

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

Carrefour

Market Cap: €9.1b

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

Sprouts Farmers Market

Market Cap: US$10.6b

Engages in the retailing of fresh, natural, and organic food products in the United States.

TIM

Market Cap: R$56.5b

A telecommunications company, provides mobile, fixed, long-distance, data transmission, and broadband services in Brazil.

Manila Electric

Market Cap: ₱617.6b

Manila Electric Company holds a congressional franchise to construct, operate, and maintain an electric distribution system in the Philippines.

Krung Thai Bank

Market Cap: ฿343.8b

Engages in commercial banking business in Thailand and internationally.

Orkla

Market Cap: NOK 104.7b

Operates as an industrial investment company within brands and consumer-oriented businesses in Norway, Sweden, Denmark, Finland, Iceland, the Baltics, rest of Europe, and internationally.

Far EasTone Telecommunications

Market Cap: NT$320.2b

Engages in the provision of telecommunications and digital application services in Taiwan.

Vietnam Commercial Bank for Industry and Trade

Market Cap: ₫276.6t

Provides various banking products and services to individuals, businesses, and organizations in Vietnam and internationally.

Chubu Electric Power Company

Market Cap: JP¥1.5t

Engages in the generation, transmission, distribution, and retail of electricity in Japan and internationally.

iA Financial

Market Cap: CA$14.6b

Provides insurance and wealth management services for individual and group basis in Canada and the United States.

Indus Towers

Market Cap: ₹928.4b

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.

Bajaj Housing Finance

Market Cap: ₹928.3b

Provides housing finance services in India.

M3

Market Cap: JP¥1.5t

Provides medical-related services primarily to physicians and other healthcare professionals through the Internet.

Vietnam Technological and Commercial Bank

Market Cap: ₫274.5t

Provides personal and corporate banking products and services in Vietnam and internationally.

Redeia Corporación

Market Cap: €8.8b

Engages in the electricity transmission, and system operation and management of the transmission network for the electricity system in Spain and internationally.

Molina Healthcare

Market Cap: US$10.4b

Provides managed healthcare services to low-income families and individuals under the Medicaid and Medicare programs and through the state insurance marketplaces.

Boubyan Bank K.S.C.P

Market Cap: د.ك3.2b

Provides various banking products and services in Kuwait, the Middle East, North Africa, Europe, the United Kingdom, and internationally.

China Resources Microelectronics

Market Cap: CN¥73.7b

An investment holding company, engages in the manufacture and sale of semiconductors.

Japan Post Insurance

Market Cap: JP¥1.5t

Provides life insurance products and services in Japan.

Old Republic International

Market Cap: US$10.3b

Through its subsidiaries, provides insurance underwriting and related services primarily in the United States and Canada.

KT&G

Market Cap: ₩14.5t

Engages in the production, distribution, and sale of tobacco products in South Korea, Europe, and internationally.

Bank of Chengdu

Market Cap: CN¥73.1b

Provides various commercial banking products and services in China.

Marico

Market Cap: ₹909.4b

Manufactures and sells branded consumer products in India, Bangladesh, Vietnam, and internationally.

Celcomdigi Berhad

Market Cap: RM 43.1b

An investment holding company, provides mobile communication services and related products in Malaysia.

Huadong Medicine

Market Cap: CN¥72.7b

Engages in the wholesale and retail of pharmaceutical products in China and internationally.

Bank of the Philippine Islands

Market Cap: ₱593.4b

Provides various financial products and services to retail and corporate clients in the Philippines.

Coca-Cola Consolidated

Market Cap: US$10.2b

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

Piotech

Market Cap: CN¥72.5b

Engages in the research and development, production, sales, and technical services of high-end semiconductor special equipment in China.

Banque Cantonale Vaudoise

Market Cap: CHF 8.1b

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

BAWAG Group

Market Cap: €8.6b

Operates as a holding company for BAWAG P.S.K.

Hong Leong Bank Berhad

Market Cap: RM 42.6b

Operates as a financial services company in Malaysia and internationally.

Sanlam

Market Cap: R174.7b

Provides various financial solutions to individual, business, and institutional clients in South Africa, rest of Africa, Asia, and internationally.

Chongqing Rural Commercial Bank

Market Cap: HK$78.8b

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

InnoScience (Suzhou) Technology Holding

Market Cap: HK$78.5b

InnoScience (Suzhou) Technology Holding Co., Ltd.

Lattice Semiconductor

Market Cap: US$10.1b

Develops and sells semiconductor, silicon-based and silicon-enabling, evaluation boards, and development hardware products in Asia, Europe, and the Americas.