Icelandic Food, Beverage & Tobacco Defensive Blue Chips

Semiconductor Manufacturing International

Market Cap: HK$473.6b

An investment holding company, engages in the manufacture, testing, and sale of integrated circuits wafer and various compound semiconductors in the United States, China, and Eurasia.

Siemens Healthineers

Market Cap: €53.6b

Through its subsidiaries, develops, manufactures, and sells a range of diagnostic and therapeutic products and services to healthcare providers worldwide.

Travelers Companies

Market Cap: US$60.6b

Through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States and internationally.

Industrial Bank

Market Cap: CN¥433.6b

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

Nu Holdings

Market Cap: US$60.0b

Provides digital banking platform in Brazil, Mexico, Colombia, the Cayman Islands, and the United States.

Canadian Imperial Bank of Commerce

Market Cap: CA$82.7b

A diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally.

ACWA Power

Market Cap: ر.س223.4b

Engages in the investment, development, operation, and maintenance of power generation, water desalination, and green hydrogen production plants in the Kingdom of Saudi Arabia, the Middle East, Asia, and Africa.

Monster Beverage

Market Cap: US$59.4b

Through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally.

Mizuho Financial Group

Market Cap: JP¥8.5t

Engages in banking, trust, securities, and other businesses related to financial services in Japan, the Americas, Europe, Asia/Oceania, and internationally.

Assicurazioni Generali

Market Cap: €51.2b

Provides various insurance solutions under the Generali brand in the Americas, Italy, rest of Europe, Africa, the Middle East, Asia, and the Oceania.

ANZ Group Holdings

Market Cap: AU$89.2b

Provides various banking and financial products and services to retail, individuals and business customers in Australia and internationally.

Aflac

Market Cap: US$57.2b

Through its subsidiaries, provides supplemental health and life insurance products.

Barclays

Market Cap: UK£42.8b

Provides various financial services in the United Kingdom, Europe, the Americas, Africa, the Middle East, and Asia.

Crédit Agricole

Market Cap: €50.1b

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

Cencora

Market Cap: US$56.6b

Cencora, Inc. sources and distributes pharmaceutical products in the United States and internationally.

Oversea-Chinese Banking

Market Cap: S$72.9b

Provides financial services in Singapore, Malaysia, Indonesia, Greater China, rest of the Asia Pacific, and internationally.

Lloyds Banking Group

Market Cap: UK£42.1b

Provides a range of banking and financial products and services in the United Kingdom and internationally.

Japan Tobacco

Market Cap: JP¥8.0t

A tobacco company, manufactures and sells tobacco products, pharmaceuticals, and processed foods in Japan and internationally.

Saudi National Bank

Market Cap: ر.س206.1b

Through its subsidiaries, provides banking and investment management services in the Kingdom of Saudi Arabia and internationally.

CaixaBank

Market Cap: €48.5b

Provides various banking products and financial services in Spain and internationally.

Danone

Market Cap: €48.4b

Operates in the food and beverage industry in Europe, Ukraine, North America, China, North Asia, the Oceania, Latin America, rest of Asia, Africa, Turkey, the Middle East, and the Commonwealth of Independent States.

Manulife Financial

Market Cap: CA$74.9b

Provides financial products and services in the United States, Canada, Asia, and internationally.

Wal-Mart de México. de

Market Cap: Mex$1.1t

Owns and operates self-service stores in Mexico and Central America.

Swiss Re

Market Cap: CHF 44.4b

Provides reinsurance, insurance, other insurance-based forms of risk transfer, and other insurance-related services worldwide.

Marvell Technology

Market Cap: US$54.0b

Provides data infrastructure semiconductor solutions, spanning the data center core to network edge.

Allstate

Market Cap: US$52.8b

Provides property and casualty, and other insurance products in the United States and Canada.

Nongfu Spring

Market Cap: HK$405.4b

Researches, develops, produces, and markets packaged drinking water and beverage products primarily in Mainland China.

MetLife

Market Cap: US$52.2b

A financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide.

NatWest Group

Market Cap: UK£38.9b

Provides banking and financial products and services to personal, commercial, corporate, and institutional customers in the United Kingdom and internationally.

Truist Financial

Market Cap: US$51.7b

A financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States.

América Móvil. de

Market Cap: Mex$1.0t

Provides telecommunications services in Latin America and internationally.

China CITIC Bank

Market Cap: HK$394.2b

Provides various banking products and services in the People’s Republic of China and internationally.

Barito Renewables Energy

Market Cap: Rp822.8t

Engages in the generation and sale of power through geothermal and wind resources in Indonesia.

Heineken

Market Cap: €44.2b

Heineken N.V. brews and sells beer and cider in the Americas, Europe, Africa, the Middle East, and the Asia Pacific.

Engie

Market Cap: €44.0b

Operates as an energy company, engages in the renewables and decentralized, low-carbon energy networks, and energy services businesses in France, Europe, North America, Asia, the Middle East, Oceania, South America, Africa, and internationally.

Sberbank of Russia

Market Cap: ₽3.0t

Sberbank of Russia, together with its subsidiaries, provides corporate and retail banking products and services to individuals, small businesses, corporate clients, and financial institutions.