Icelandic Consumer Services Defensive Blue Chips

Krung Thai Bank

Market Cap: ฿346.6b

Engages in commercial banking business in Thailand and internationally.

Sanan OptoelectronicsLtd

Market Cap: CN¥75.8b

Engages in the research, development, production, and sale of LED epitaxial wafers and chips, compound semiconductors, semiconductor and communication chips, and sapphire substrates in China and internationally.

Indus Towers

Market Cap: ₹943.9b

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.

mBank

Market Cap: zł38.7b

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

TIM

Market Cap: R$56.7b

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

Piraeus Financial Holdings

Market Cap: €9.1b

Provides banking products and services in Greece and internationally.

M3

Market Cap: JP¥1.6t

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

Old Republic International

Market Cap: US$10.6b

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

Vietnam Commercial Bank for Industry and Trade

Market Cap: ₫277.1t

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

Carrefour

Market Cap: €9.0b

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

Chubu Electric Power Company

Market Cap: JP¥1.6t

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

Manila Electric

Market Cap: ₱610.3b

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

Vietnam Technological and Commercial Bank

Market Cap: ₫275.5t

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

Sanlam

Market Cap: R179.8b

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

Marico

Market Cap: ₹927.9b

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

Enel Américas

Market Cap: CL$10.0t

Generates, transmits, and distributes electricity in Brazil, Colombia, Central America, Argentina, and Peru.

Bajaj Housing Finance

Market Cap: ₹925.3b

Provides housing finance services in India.

China Resources Microelectronics

Market Cap: CN¥73.7b

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

Coca-Cola Consolidated

Market Cap: US$10.3b

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

Comerica

Market Cap: US$10.3b

Provides financial services in the United States, Canada, and Mexico.

Bank of Chengdu

Market Cap: CN¥73.1b

Provides various commercial banking products and services in China.

Bank of the Philippine Islands

Market Cap: ₱596.0b

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

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.

Hon. Precision

Market Cap: NT$311.9b

Manufactures and sells handlers in Taiwan.

Hong Leong Bank Berhad

Market Cap: RM 43.2b

Operates as a financial services company in Malaysia and internationally.

Japan Post Insurance

Market Cap: JP¥1.5t

Provides life insurance products and services in Japan.

Orkla

Market Cap: NOK 101.9b

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.

Webster Financial

Market Cap: US$10.2b

Operates as the bank holding company for Webster Bank, National Association that provides various financial products and services to businesses, individuals, and families in the United States.

Huadong Medicine

Market Cap: CN¥72.7b

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

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.

SouthState Bank

Market Cap: US$10.2b

Operates as the bank holding company for SouthState Bank, National Association that provides a range of banking services and products to individuals and companies in the United States.

Lattice Semiconductor

Market Cap: US$10.2b

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

Boubyan Bank K.S.C.P

Market Cap: د.ك3.1b

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

Celcomdigi Berhad

Market Cap: RM 42.9b

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

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.

Ensign Group

Market Cap: US$10.2b

Provides skilled nursing, senior living, and rehabilitative services.