Icelandic Consumer Services Defensive Blue Chips

ROHM

Market Cap: JP¥1.8t

Manufactures and sells electronic components worldwide.

SD Guthrie Berhad

Market Cap: RM 45.8b

Operates as an integrated plantations company in Malaysia and internationally.

Hong Leong Bank Berhad

Market Cap: RM 45.5b

Operates as a financial services company in Malaysia and internationally.

Encompass Health

Market Cap: US$11.1b

Operates inpatient rehabilitation hospitals in the United States and Puerto Rico.

Max Healthcare Institute

Market Cap: ₹1.1t

Provides medical and healthcare services in India.

Tata Consumer Products

Market Cap: ₹1.1t

Manufactures, distributes, and trades in food products in India, the United States, the United Kingdom, and internationally.

Absa Group

Market Cap: R182.5b

Provides retail, business, corporate, investment banking, insurance, financial, and wealth management products and services in South Africa and internationally.

Industrial Bank of Korea

Market Cap: ₩16.4t

Operates as a small and medium-sized enterprise (SME) financing bank in Korea and internationally.

UMB Financial

Market Cap: US$11.1b

Operates as a bank holding company that provides banking services and asset servicing in the United States and internationally.

Popular

Market Cap: US$11.1b

Through its subsidiaries, provides various retail, mortgage, and commercial banking services for individuals and businesses in Puerto Rico, the United States, the British Virgin Islands, the Caribbean, and Latin America.

Indus Towers

Market Cap: ₹1.1t

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.

Wintrust Financial

Market Cap: US$11.1b

A financial holding company, provides community-oriented, personal, and commercial banking services in the United States.

Ryan Specialty Holdings

Market Cap: US$11.1b

Operates as a service provider of specialty products and solutions for insurance brokers, agents, and carriers in the United States, Canada, the United Kingdom, rest of Europe, India, Singapore, and internationally.

Turkiye Garanti Bankasi

Market Cap: ₺522.1b

Provides various banking products and services in Turkey.

Sanlam

Market Cap: R181.8b

Provides various financial services in South Africa, Pan-Africa, Asia, and internationally.

Rambus

Market Cap: US$11.0b

Manufactures and sells semiconductor products in the United States, South Korea, Singapore, and internationally.

Japan Post Insurance

Market Cap: JP¥1.8t

Engages in the provision of life insurance products and services in Japan.

Orkla

Market Cap: NOK 104.6b

Operates as an industrial investment company within brands and consumer-oriented businesses worldwide.

Safaricom

Market Cap: KSh1.4t

Provides telecommunication services in Kenya and Ethiopia.

Manila Electric

Market Cap: ₱670.6b

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

Quebecor

Market Cap: CA$15.2b

Engages in the telecommunications, media, and sports and entertainment businesses in Canada.

SG Micro

Market Cap: CN¥73.3b

Engages in the development, manufacturing and sales of comprehensive analog and mixed-signal integrated-circuit (IC) solutions in Mainland China, Hong Kong, Taiwan, and internationally.

Mowi

Market Cap: NOK 104.1b

A seafood company, produces and sells Atlantic salmon products worldwide.

China Zheshang Bank

Market Cap: HK$84.5b

Provides corporate and retail banking services in Mainland China.

Maplebear

Market Cap: US$10.8b

Maplebear Inc., doing business as Instacart, operates as a technology and enablement partner for the grocery industry in the United States and internationally.

Busy Ming Group

Market Cap: HK$83.8b

Through its subsidiaries, operates as a food and beverage retailer in China.

KINGSEMI

Market Cap: CN¥72.2b

Engages in the research and development, production, sales, and service provision of semiconductor fabrication equipment in China and internationally.

J Sainsbury

Market Cap: UK£7.9b

Engages in the food, general merchandise and clothing retailing, and financial services activities in the United Kingdom.

Shizuoka Financial GroupInc

Market Cap: JP¥1.7t

Provides various banking products and services.

BDO Unibank

Market Cap: ₱657.8b

Provides various banking products and services to individuals and corporations in the Philippines and internationally.

Zions Bancorporation National Association

Market Cap: US$10.6b

Provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming.

TIM

Market Cap: R$54.0b

Engages in the telecommunications sector in Brazil.

Chongqing Rural Commercial Bank

Market Cap: HK$83.0b

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

King Yuan Electronics

Market Cap: NT$341.1b

Designs, manufactures, sells, tests, and assembles integrated circuits.

Marks and Spencer Group

Market Cap: UK£7.9b

Operates various retail stores.

Zhejiang Zheneng Electric Power

Market Cap: CN¥71.3b

Zhejiang Zheneng Electric Power Co., Ltd.