Icelandic Consumer Services Defensive Blue Chips

Admiral Group

Market Cap: UK£11.6b

A financial services company, provides insurance and personal lending products in the United Kingdom, France, Italy, and Spain.

First Financial Holding

Market Cap: NT$500.4b

Provides various financial products and services in Asia, North America, Oceania, and Europe.

Huaneng Power International

Market Cap: HK$120.8b

Generates and sells electric power to the regional or provincial grid companies in the People’s Republic of China, the Islamic Republic of Pakistan, and internationally.

DaVita

Market Cap: US$15.4b

Provides kidney dialysis services for patients suffering from chronic kidney failure in the United States.

Mapfre

Market Cap: €13.5b

Engages in insurance, reinsurance, and financial activities in Spain.

Kirin Holdings Company

Market Cap: JP¥2.5t

Engages in food and beverages, alcoholic beverages, pharmaceuticals, and health science businesses.

Enpara Bank

Market Cap: ₺723.6b

Provides banking services and products in Turkey.

KGI Financial Holding

Market Cap: NT$494.8b

Operates as a financial company in Taiwan and internationally.

mBank

Market Cap: zł57.2b

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

Banco de Crédito e Inversiones

Market Cap: CL$14.1t

Provides various banking products and services in Chile, the United States, and Peru.

BrightSpring Health Services

Market Cap: US$15.1b

Operates as a home and community-based healthcare services platform in the United States.

ING Bank Slaski

Market Cap: zł57.0b

Provides various banking products and services for retail clients and businesses in Poland.

BAWAG Group

Market Cap: €13.2b

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

Eastroc Beverage (Group)

Market Cap: CN¥101.6b

Engages in the manufacturing and distribution of beverages in the People’s Republic of China.

Jentech Precision Industrial

Market Cap: NT$485.7b

Manufactures, processes, and trades in precision tooling, and electronic parts and components in Taiwan and China.

CNA Financial

Market Cap: US$15.0b

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

Emirates Integrated Telecommunications Company PJSC

Market Cap: د.إ54.9b

Provides mobile, fixed services, broadband connectivity, and IPTV solutions to homes and businesses in the United Arab Emirates.

Coloplast

Market Cap: DKK 98.1b

Engages in the development and sale of intimate healthcare products and services in Denmark, the United States, the United Kingdom, France, and internationally.

VeriSilicon Microelectronics (Shanghai)

Market Cap: CN¥101.0b

Provides platform-based custom silicon and semiconductor IP licensing services in China and internationally.

Public Power

Market Cap: €13.0b

Generates, transmits, and distributes electricity in Greece, Romania, Bulgaria, and North Macedonia.

T&D Holdings

Market Cap: JP¥2.4t

Through its subsidiaries, provides insurance products and services in Japan.

BIWIN Storage Technology

Market Cap: CN¥99.9b

Engages in the research and development, design, packaging, testing, production, and sales of semiconductor memory.

Rede D'Or São Luiz

Market Cap: R$75.5b

Engages in the provision of hospital services in Brazil.

Grupo Bimbo. de

Market Cap: Mex$257.3b

Produces, distributes, and markets bakery products.

Attijariwafa bank

Market Cap: د.م137.0b

Provides banking products and services for retail, professionals, corporates, and institutional clients in Africa, Europe, and the Middle East.

Gjensidige Forsikring

Market Cap: NOK 140.2b

Provides general insurance and pension products in Norway, Sweden, Denmark, Finland, Latvia, Lithuania, and Estonia.

Fidelity National Financial

Market Cap: US$14.6b

Provides various insurance products in the United States.

Dubai Islamic Bank P.J.S.C

Market Cap: د.إ53.4b

Engages in the corporate, retail, and investment banking activities in the United Arab Emirates and internationally.

MPI

Market Cap: NT$469.3b

Manufactures, processes, repairs, imports/exports, and trades in semiconductor manufacturing and testing equipment in Taiwan, China, the United States, Singapore, Korea, and internationally.

Suncorp Group

Market Cap: AU$20.7b

Provides insurance products to retail, corporate, and commercial customers in Australia and New Zealand.

Brookfield Wealth Solutions

Market Cap: US$14.4b

Through its subsidiaries, provides retirement services, wealth protection products, and capital solutions to individuals and institutions.

Shanghai Iluvatar CoreX Semiconductor

Market Cap: HK$112.4b

Shanghai Iluvatar CoreX Semiconductor Co., Ltd.

LONGi Green Energy Technology

Market Cap: CN¥96.8b

Manufactures and sells monocrystalline silicon wafers, solar modules, and green hydrogen equipment in China, Europe, the Asia Pacific, and the United States.

Phoenix Financial

Market Cap: ₪43.5b

Operates as a financial services company in Israel.

Fisher & Paykel Healthcare

Market Cap: NZ$24.5b

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

Qatar Islamic Bank (Q.P.S.C.)

Market Cap: ر.ق51.5b

Provides corporate, retail, and investment banking products and services in Qatar and internationally.