Icelandic Transportation Defensive Blue Chips

China Unicom (Hong Kong)

Market Cap: HK$193.8b

An investment holding company, provides telecommunications and related value-added services in the People’s Republic of China.

QBE Insurance Group

Market Cap: AU$34.5b

Engages in underwriting general insurance and reinsurance risks in the Australia Pacific, North America, and internationally.

Public Bank Berhad

Market Cap: RM 99.6b

Provides banking products and services.

Principal Financial Group

Market Cap: US$24.4b

Provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide.

Sigma Healthcare

Market Cap: AU$34.3b

Operates as a retail pharmacy franchisor and pharmaceutical wholesale and distributor to community pharmacies primarily in Australia.

First Solar

Market Cap: US$24.2b

A solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, India, Chile, and internationally.

Suzhou Centec Communications

Market Cap: CN¥163.4b

Engages in the research, design, and sale of Ethernet switching chips and related products in China and internationally.It offers ethernet switch and ethernet transceiver PHY silicon; and ethernet switches, as well as network operation systems.

MACOM Technology Solutions Holdings

Market Cap: US$24.2b

Provides analog semiconductor solutions for use in wireless and wireline applications across the radio frequency (RF), microwave, millimeter wave, and lightwave spectrum.

Unipol Assicurazioni

Market Cap: €20.7b

Provides insurance products and services primarily in Italy.

Inner Mongolia Yili Industrial Group

Market Cap: CN¥161.4b

Inner Mongolia Yili Industrial Group Co., Ltd.

Aeon

Market Cap: JP¥3.8t

Operates in the retail industry in Japan, China, ASEAN countries, and internationally.

Raiffeisen Bank International

Market Cap: €20.7b

Offers banking services to corporate, retail, and institutional customers.

New China Life Insurance

Market Cap: CN¥160.9b

Provides life insurance products and services to individuals and institutions in China.

Constellation Brands

Market Cap: US$23.8b

Produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy.

NN Group

Market Cap: €20.5b

A financial services company, provides life and non-life insurance products in the Netherlands and internationally.

BNP Paribas Fortis

Market Cap: €20.5b

Provides various financial services in Belgium, Turkey, Luxembourg, and internationally.

Brown & Brown

Market Cap: US$23.6b

Brown & Brown, Inc. markets and sells insurance products and services in the United States, the United Kingdom, and internationally.

US Foods Holding

Market Cap: US$23.6b

US Foods Holding Corp., together with its subsidiaries, markets, sells, and distributes fresh, frozen, and dry food and non-food products to foodservice customers in the United States.

Technoprobe

Market Cap: €20.1b

Produces and sells electronic circuits in Italy, Asia, the United States, and rest of Europe.

Loews

Market Cap: US$23.1b

Through its subsidiaries, provides commercial property and casualty insurance in the United States and internationally.

Abu Dhabi Islamic Bank PJSC

Market Cap: د.إ84.4b

Provides banking, financing, and investing services in the United Arab Emirates, rest of the Middle East, and internationally.

Global Unichip

Market Cap: NT$732.4b

Engages in the research and development, production, testing, and sale of embedded memory and logic components, analog components, cell libraries, and EDA tools for various IC applications.

ASPEED Technology

Market Cap: NT$735.6b

Operates as a fabless integrated circuit (IC) design company in Taiwan, China, the United States, and internationally.

Markel Group

Market Cap: US$22.9b

Engages in the insurance business in the United States, the United Kingdom, Bermuda, Germany, rest of the European Union, Canada, and the Asia Pacific.

Coca-Cola FEMSA. de

Market Cap: US$22.9b

A franchise bottler, produces, markets, sells, and distributes Coca-Cola trademarked beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Brazil, Argentina, and Uruguay.

STERIS

Market Cap: US$22.7b

Provides infection prevention products and services in the United States, Ireland, and internationally.

Coca-Cola HBC

Market Cap: UK£16.8b

Engages in the production, sale, and distribution of non-alcoholic ready-to-drink beverages under franchise in Switzerland, West Coast of Ireland, Central and Eastern Europe, Nigeria, and internationally.

VERBUND

Market Cap: €19.6b

Generates, trades, and sells electricity in Austria, Germany, France, Romania, Spain, and Luxembourg.

Terna

Market Cap: €19.6b

Provides electricity transmission and dispatching services in Italy, other Euro-area countries, and internationally.

Coles Group

Market Cap: AU$31.5b

Operates as a retailer in Australia.

Shanxi Xinghuacun Fen Wine FactoryLtd

Market Cap: CN¥150.7b

Shanxi Xinghuacun Fen Wine Factory Co.,Ltd.

Jentech Precision Industrial

Market Cap: NT$712.4b

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

Uniper

Market Cap: €19.3b

Operates as an energy company in Germany, the United Kingdom, Sweden, the rest of Europe, and internationally.

QNB Bank

Market Cap: ₺1.1t

Provides various banking and financial services in Turkey.

Mega Financial Holding

Market Cap: NT$702.4b

Provides various financial services in Taiwan.

MTN Group

Market Cap: R355.8b

Provides mobile telecommunications services in South Africa, Nigeria, South and East Africa, West and Central Africa, and the Middle East and North Africa.