Hungarian Utilities Defensive Blue Chips

Emirates Telecommunications Group Company PJSC

Market Cap: د.إ160.9b

Provides telecommunications services, media, and related equipment in the United Arab Emirates and internationally.

Kroger

Market Cap: US$43.7b

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

Axis Bank

Market Cap: ₹3.9t

Provides various financial products and services in India and internationally.

Commerzbank

Market Cap: €37.4b

Provides banking and capital market products and services to private and small business customers, corporate, financial service providers, and institutional clients in Germany, rest of Europe, the Americas, Asia, and internationally.

Orange

Market Cap: €37.3b

Operates as a telecommunications operator in France and internationally.

United Overseas Bank

Market Cap: S$56.3b

Provides banking products and services worldwide.

Heidelberg Materials

Market Cap: €36.9b

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

American International Group

Market Cap: US$42.3b

Offers insurance products for commercial, institutional, and individual customers in North America and internationally.

CBZ Holdings

Market Cap: US$5.4b

Provides various banking and financial products and services to retail and corporate customers in Zimbabwe.

Fubon Financial Holding

Market Cap: NT$1.3t

Provides various financial services in Taiwan, Asia, and internationally.

NAURA Technology Group

Market Cap: CN¥295.2b

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

Target

Market Cap: US$41.2b

Operates as a general merchandise retailer in the United States.

Erste Group Bank

Market Cap: €35.3b

Provides a range of banking and other financial services to retail, corporate, and public sector customers.

Great-West Lifeco

Market Cap: CA$57.3b

Engages in the life and health insurance, retirement savings, wealth and asset management, and reinsurance businesses in Canada, the United States, and Europe.

Coca-Cola Europacific Partners

Market Cap: €35.1b

Produces, distributes, and sells a range of non-alcoholic ready to drink beverages.

JAPAN POST BANK

Market Cap: JP¥6.3t

Provides financial products and services in Japan and internationally.

FBC Holdings

Market Cap: US$5.2b

Through its subsidiaries, provides commercial and wholesale banking, mortgage financing, micro lending, reinsurance, short-term insurance, and stockbroking services in Zimbabwe.

Ambev

Market Cap: R$212.5b

Through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, malt and food, other alcoholic beverages, and non-alcoholic and non-carbonated products in Brazil, Central America and Caribbean, Latin America South, and Canada.

UltraTech Cement

Market Cap: ₹3.5t

Engages in the manufacture and sale of clinker, cement, ready mix concrete, and related products in India, the United Arab Emirates, Bahrain, and Sri Lanka.

QNB Bank

Market Cap: ₺1.7t

Provides various banking products and services in Turkey.

Endesa

Market Cap: €33.5b

Engages in the generation, distribution, and sale of electricity in Spain, Portugal, France, Germany, the United Kingdom, Switzerland, Luxembourg, the Netherlands, Singapore, Italy, Morocco, and internationally.

DNB Bank

Market Cap: NOK 386.7b

Provides financial services to individuals and businesses in Norway and internationally.

Skandinaviska Enskilda Banken

Market Cap: SEK 361.8b

Provides corporate, retail, investment, and private banking services.

Alcon

Market Cap: CHF 30.3b

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

RWE

Market Cap: €32.9b

Generates and supplies electricity from renewable and conventional sources in Germany, the United Kingdom, rest of Europe, North America, and internationally.

Huadian New Energy Group

Market Cap: CN¥270.3b

Engages in the power generation business in China.

Swisscom

Market Cap: CHF 30.1b

Provides telecommunication services primarily in Switzerland, Italy, and internationally.

Danske Bank

Market Cap: DKK 242.9b

Provides various banking products and services to corporate, institutional, and international clients.

Muyuan Foods

Market Cap: CN¥267.7b

Operates in the hog industry in China.

China Unicom (Hong Kong)

Market Cap: HK$292.8b

An investment holding company, provides telecommunications and related value-added services in the People’s Republic of China.

Vulcan Materials

Market Cap: US$37.5b

Produces and supplies construction aggregates in the United States.

Koninklijke Ahold Delhaize

Market Cap: €32.3b

Operates retail food stores and e-commerce in the Netherlands, the United States, and internationally.

Dubai Electricity and Water Authority (PJSC)

Market Cap: د.إ137.0b

Generates, transmits, and distributes electricity for residential, commercial, industrial, and government customers primarily in Dubai.

Hartford Insurance Group

Market Cap: US$37.2b

Provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally.

Tesco

Market Cap: UK£28.3b

Operates as a grocery retailer in the United Kingdom, Republic of Ireland, the Czech Republic, Slovakia, and Hungary.

ResMed

Market Cap: US$36.8b

Develops, manufactures, distributes, and markets medical devices and cloud-based software applications to diagnose, treat, and manage respiratory disorders in the United States and internationally.