Latvian Consumer Durables Defensive Blue Chips

Dubai Electricity and Water Authority (PJSC)

Market Cap: د.إ133.0b

Generates, transmits, and distributes electricity for residential, commercial, industrial, and government customers primarily in Dubai.

Koninklijke Ahold Delhaize

Market Cap: €31.6b

Operates retail food stores and e-commerce in the Netherlands, the United States, and internationally.

Vodafone Group

Market Cap: UK£26.8b

Provides telecommunication services in Germany, the United Kingdom, rest of Europe, Turkey, and South Africa.

Kroger

Market Cap: US$35.9b

Operates as a food and drug retailer in the United States.

UltraTech Cement

Market Cap: ₹3.4t

Engages in the manufacture and sale of clinker, cement, ready mix concrete, and related products in India, the United Arab Emirates, Bahrain, and Sri Lanka.

ABN AMRO Bank

Market Cap: €31.1b

Provides various banking products and financial services to retail, private, and corporate banking clients in the Netherlands, rest of Europe, the United States, Asia, and internationally.

Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna

Market Cap: zł135.0b

Provides various banking products and services in Poland and internationally.

Prudential

Market Cap: UK£26.2b

Through its subsidiaries, provides life and health insurance, and asset management solutions to individuals in Asia and Africa.

Heidelberg Materials

Market Cap: €30.5b

Produces and distributes cement, aggregates, ready-mixed concrete, and asphalt worldwide.

Bank Leumi le-Israel B.M

Market Cap: ₪105.4b

Provides banking and financial services for households, small and medium enterprises, and corporations in Israel, the United Kingdom, and internationally.

Arch Capital Group

Market Cap: US$34.8b

Provides insurance, reinsurance, and mortgage insurance products in the United States, Canada, Bermuda, the United Kingdom, Europe, and Australia.

Hannover Rück

Market Cap: €30.4b

Provides reinsurance products and services in Germany, the United Kingdom, France, Europe, the United States, Asia, Australia, Africa, and internationally.

Martin Marietta Materials

Market Cap: US$34.6b

A natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally.

Hershey

Market Cap: US$34.5b

Engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally.

Alcon

Market Cap: CHF 27.8b

Researches, develops, manufactures, distributes, and sells eye care products worldwide.

Shinhan Financial Group

Market Cap: ₩51.2t

Provides financial products and services in South Korea, Vietnam, and Japan.

ON Semiconductor

Market Cap: US$34.3b

Provides intelligent sensing and power solutions in Hong Kong, Singapore, the United Kingdom, the United States, and internationally.

Hon. Precision

Market Cap: NT$1.1t

Engages in the manufacture and sale of machinery and related components, automatic control equipment engineering, and machinery installations in Taiwan.

GLOBALFOUNDRIES

Market Cap: US$33.7b

A semiconductor foundry, provides range of mainstream wafer fabrication services and technologies in the United States, Europe, the Middle East, Africa, and internationally.

Advanced Info Service

Market Cap: ฿1.1t

Operates as a telecommunications company primarily in Thailand.

Capitec Bank Holdings

Market Cap: R548.9b

Through its subsidiaries, provides various banking products and services in South Africa.

CEZ a. s

Market Cap: Kč703.2b

Engages in the generation, distribution, trade, and sale of electricity, heat, thermal energy and other commodities in Central Europe.

Montage Technology

Market Cap: CN¥224.9b

An integrated circuit (IC) design company, provides IC-based solutions for cloud computing and AI infrastructure in the People’s Republic of China.

Malayan Banking Berhad

Market Cap: RM 135.5b

Provides commercial banking and related financial products and services.

Chunghwa Telecom

Market Cap: NT$1.1t

Operates as an integrated telecommunications service provider in Taiwan and internationally.

Muyuan Foods Group

Market Cap: CN¥223.8b

Operates as a pork company in the hog farming industry in China.

Federal National Mortgage Association

Market Cap: US$33.0b

Provides financing solutions for residential mortgages in the United States.

Talanx

Market Cap: €28.8b

Provides insurance and reinsurance products and services worldwide.

BPER Banca

Market Cap: €28.7b

Engages in the provision of banking products and services for individuals, and businesses and professionals in Italy and internationally.

Swiss Life Holding

Market Cap: CHF 26.4b

Provides life, pensions, and financial solutions for private and corporate clients.

Veeva Systems

Market Cap: US$32.1b

Provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America.

Standard Bank Group

Market Cap: R525.0b

Provides financial products and services in South Africa and internationally.

Centene

Market Cap: US$31.5b

Operates as a managed care company that provides programs and services to under-insured families, and commercial organizations in the United States.

Citizens Financial Group

Market Cap: US$31.4b

Operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations, and institutions in the United States.

Bank Hapoalim B.M

Market Cap: ₪94.3b

Provides various banking and financial services in Israel, North America, Europe, and internationally.

Veolia Environnement

Market Cap: €27.3b

Designs and provides water, waste, and energy management solutions.