Icelandic Banks Defensive Blue Chips

Swedbank

Market Cap: SEK 285.8b

Provides various banking products and services to private and corporate customers in Sweden, Estonia, Latvia, Lithuania, Norway, the United States, Finland, Denmark, Luxembourg, and China.

Imperial Brands

Market Cap: UK£21.9b

Manufactures, imports, markets, and sells tobacco and tobacco-related products in Europe, the Americas, Africa, the Asia, Australasia, and internationally.

CEZ a. s

Market Cap: Kč648.5b

Engages in the generation, distribution, trade, and sale of electricity and heat in Western, Central, and Southeastern Europe.

Malayan Banking Berhad

Market Cap: RM 122.5b

Provides commercial banking and related financial products and services.

Kellanova

Market Cap: US$28.5b

Manufactures and markets snacks and convenience foods in North America, Europe, Latin America, the Asia Pacific, the Middle East, Australia, and Africa.

Sampo Oyj

Market Cap: €25.5b

Provides non-life insurance products and services in Finland, Sweden, Norway, Denmark, Estonia, Lithuania, Latvia, Spain, Gibraltar, Germany, the Netherlands, France, and the United Kingdom.

Naturgy Energy Group

Market Cap: €25.2b

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

Telefónica

Market Cap: €25.0b

Provides telecommunications services in Europe and Latin America.

Japan Post Holdings

Market Cap: JP¥4.0t

Provides postal, banking, and insurance services in Japan.

W. R. Berkley

Market Cap: US$27.6b

An insurance holding company, operates as a commercial line writer worldwide.

Terumo

Market Cap: JP¥4.0t

Engages in the manufacture and sale of medical products and equipment in Japan, Europe, China, the United States, Asia, and internationally.

Swiss Life Holding

Market Cap: CHF 23.1b

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

Humana

Market Cap: US$27.5b

Provides medical and specialty insurance products in the United States.

American Water Works Company

Market Cap: US$27.4b

Through its subsidiaries, provides water and wastewater services in the United States.

Bank of Jiangsu

Market Cap: CN¥196.9b

Provides various banking products and services in China.

National Bank of KuwaitK.P

Market Cap: د.ك8.4b

Provides financial and investment services and solutions to individual, corporate, and institutional clients in Kuwait, the Middle East, North Africa, Europe, the United Kingdom, and internationally.

Nestlé India

Market Cap: ₹2.3t

Manufactures and sells food products in India and internationally.

Fresenius SE KGaA

Market Cap: €24.3b

A health care company, provides products and services for chronically ill patients.

China National Nuclear Power

Market Cap: CN¥194.0b

Invests in, develops, constructs, operates, and manages nuclear power projects in the People's Republic of China.

ASM International

Market Cap: €23.9b

Engages in the research, development, manufacture, marketing, and servicing of equipment and materials used to produce semiconductor devices in Europe, the United States, and Asia.

Poste Italiane

Market Cap: €23.9b

Provides postal, logistics, and financial and insurance products and services in Italy.

Pernod Ricard

Market Cap: €23.9b

Produces and sells wines and spirits worldwide.

China Tower

Market Cap: HK$207.7b

Provides telecommunication tower infrastructure services in the People's Republic of China.

Inner Mongolia Yili Industrial Group

Market Cap: CN¥190.2b

Inner Mongolia Yili Industrial Group Co., Ltd.

Fifth Third Bancorp

Market Cap: US$26.4b

Operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States.

Svenska Handelsbanken

Market Cap: SEK 257.5b

Provides various banking products and services for private and corporate customers primarily in Sweden, the United Kingdom, Norway, the Netherlands, and internationally.

RWE

Market Cap: €23.6b

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

Cellnex Telecom

Market Cap: €23.5b

Engages in the management of terrestrial telecommunications infrastructures in Austria, Denmark, Spain, France, Ireland, Italy, the Netherlands, Poland, Portugal, the United Kingdom, Sweden, and Switzerland.

Disco

Market Cap: JP¥3.8t

Manufactures and sells precision cutting, grinding, and polishing machines in Japan and internationally.

Aeon

Market Cap: JP¥3.8t

Operates in the retail industry in Japan, China, ASEAN countries, and internationally.

First Citizens BancShares

Market Cap: US$25.9b

Operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals in the United States and internationally.

Banco do Brasil

Market Cap: R$146.5b

Provides banking products and services for individuals, companies, and public sectors in Brazil and internationally.

Hang Seng Bank

Market Cap: HK$202.0b

Provides various banking and related financial services to individual, corporate, commercial, and small and medium sized enterprise customers in Hong Kong, Mainland China, and internationally.

Advanced Info Service

Market Cap: ฿859.5b

Operates as a telecommunications and technology company primarily in Thailand.

Luzhou LaojiaoLtd

Market Cap: CN¥185.9b

Provides liquor products in China.

Dai-ichi Life Holdings

Market Cap: JP¥3.7t

Through its subsidiaries, engages in the provision of insurance products in Japan, the United States, and internationally.