Icelandic Materials Defensive Blue Chips

Coloplast

Market Cap: DKK 84.2b

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

RenaissanceRe Holdings

Market Cap: US$12.9b

Provides reinsurance and insurance products in the United States and internationally.

Etihad Etisalat

Market Cap: ر.س48.3b

Through its subsidiaries, establishes and operates mobile wireless telecommunication and fiber optic networks in the Kingdom of Saudi Arabia.

Banque Saudi Fransi

Market Cap: ر.س48.2b

Provides banking and financial services for individuals and businesses in the Kingdom of Saudi Arabia and internationally.

Apollo Hospitals Enterprise

Market Cap: ₹1.2t

Provides healthcare services in India.

Turkiye Garanti Bankasi

Market Cap: ₺592.2b

Provides various banking products and services in Turkey.

KT&G

Market Cap: ₩19.4t

Engages in the production, distribution, and sale of tobacco products in South Korea, Europe, and internationally.

Tokyo GasLtd

Market Cap: JP¥2.0t

Engages in the production, supply, and sale of city gas and LNG in Japan.

United Utilities Group

Market Cap: UK£9.6b

Provides water and wastewater services in the United Kingdom.

Fresenius Medical Care

Market Cap: €11.1b

Provides dialysis and related services for individuals with renal diseases in Germany, the United States, and internationally.

Jerónimo Martins SGPS

Market Cap: €11.1b

Operates in the food distribution sector in Portugal, Poland, Colombia, Slovakia, and internationally.

Tele2

Market Cap: SEK 122.0b

Provides fixed and mobile connectivity and entertainment services in Sweden, Lithuania, Latvia, and Estonia.

Puya Semiconductor (Shanghai)

Market Cap: CN¥85.9b

Engages in research, development, design, and sale of non-volatile memory chips and memory-based derivative chips in China and internationally.

CP ALL

Market Cap: ฿414.4b

Operates convenience stores under the 7-Eleven name to other retailers primarily in Thailand, Malaysia, and internationally.

Smith & Nephew

Market Cap: UK£9.6b

Develops, manufactures, markets, and sells medical devices and services in the United Kingdom, the United States, and internationally.

Cooper Companies

Market Cap: US$12.7b

Develops, manufactures, and markets contact lens wearers.

Fidelity National Financial

Market Cap: US$12.6b

Provides various insurance products in the United States.

Banque Cantonale Vaudoise

Market Cap: CHF 10.1b

Engages in the provision of various financial services in Vaud Canton and rest of Switzerland, the European Union, North America, and internationally.

Far EasTone Telecommunications

Market Cap: NT$395.0b

Provides mobile telecommunications services in Taiwan and internationally.

Indian Bank

Market Cap: ₹1.2t

Provides various banking products and services.

McCormick

Market Cap: US$12.5b

Manufactures, markets, and distributes herbs, spices, seasoning mixes, condiments, and other flavorful products to the food industry.

Wens Foodstuff Group

Market Cap: CN¥84.4b

Engages in the agricultural and animal husbandry businesses in China and internationally.

BUA Foods

Market Cap: ₦16.9t

Processes, manufactures, produces, and distributes food materials in Nigeria.

Penumbra

Market Cap: US$12.4b

Designs, develops, manufactures, and markets medical devices in the United States and internationally.

Align Technology

Market Cap: US$12.4b

Provides Invisalign clear aligners, Vivera retainers, and iTero intraoral scanners and services in the United States, Switzerland, and internationally.

Absa Group

Market Cap: R204.1b

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

Pro Medicus

Market Cap: AU$17.6b

A healthcare informatics company, engages in the development and supply of healthcare imaging software, and radiology information (RIS) system software and services to hospitals, imaging centers, and health care groups in Australia, North America, and Europe.

China Resources Power Holdings

Market Cap: HK$97.0b

An investment holding company, invests in, develops, operates, and manages power plants and coal mine projects in the People’s Republic of China.

ROHM

Market Cap: JP¥2.0t

Manufactures and sells electronic components worldwide.

Italgas

Market Cap: €10.8b

Engages in the distribution of natural gas in Italy, Greece, and Other European Union countries.

MTN Nigeria Communications

Market Cap: ₦16.8t

Provides broadband fixed wireless access, telecommunication, and mobile financial services to consumer, commercial, and institutional customers in Nigeria.

Taiwan Cooperative Financial Holding

Market Cap: NT$388.1b

Provides banking, insurance, securities, bills finance, investment trust, asset management, and capital management services in Taiwan.

Ingenic SemiconductorLtd

Market Cap: CN¥82.9b

Engages in the research and development, design, and sale of integrated circuit chip products in China and internationally.

CNA Financial

Market Cap: US$12.3b

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

Ooredoo Q.P.S.C

Market Cap: ر.ق44.5b

Provides telecommunications services in Qatar, rest of the Middle East, Asia, and North Africa region.

Coca-Cola Consolidated

Market Cap: US$12.2b

Manufactures, markets, and distributes nonalcoholic beverages in the United States.