Serbian Consumer Durables Defensive Blue Chips

Bank of Ireland Group

Market Cap: €12.8b

Provides banking and other financial services in the Republic of Ireland, the United Kingdom, and internationally.

Jerónimo Martins SGPS

Market Cap: €12.7b

Operates in the food distribution and specialized retail sectors in Portugal, Poland, Colombia, and internationally.

Jiangsu Yanghe Distillery

Market Cap: CN¥105.0b

Offers liquors and wines.

Metro

Market Cap: CA$20.5b

Through its subsidiaries, operates as a retailer, franchisor, distributor, and manufacturer in the food and pharmaceutical sectors in Canada.

Telia Company

Market Cap: SEK 137.9b

Provides communication services to businesses, individuals, families, and communities in Sweden, Finland, Norway, Denmark, Lithuania, Estonia, and Latvia.

Everest Group

Market Cap: US$14.6b

Through its subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally.

Eurobank Ergasias Services and Holdings

Market Cap: €12.6b

Provides retail, corporate and private banking, asset management, treasury, capital market, and other services in Greece, Bulgaria, Cyprus, and Luxembourg.

Uni-President Enterprises

Market Cap: NT$448.3b

Produces and sells food products in Taiwan and internationally.

Tata Power

Market Cap: ₹1.3t

Engages in the generation, transmission, distribution, and trading of electricity in India and internationally.

National Bank of Greece

Market Cap: €12.4b

Provides financial products and services primarily in Greece, Cyprus, North Macedonia, Romania, Bulgaria, Luxembourg, the Netherlands, and the United Kingdom.

Olympus

Market Cap: JP¥2.2t

Manufactures and sells precision machineries and instruments worldwide.

Wilmar International

Market Cap: S$18.5b

Operates as an agribusiness company in the People's Republic of China, South East Asia, India, Europe, Australia, New Zealand, Africa, and internationally.

JBS

Market Cap: US$14.3b

Operates as a protein and food company worldwide.

Grupo Bimbo. de

Market Cap: Mex$263.0b

Produces, distributes, and markets bakery products.

Santander Bank Polska

Market Cap: zł51.8b

Provides various banking products and services for individuals, small or medium-sized enterprises, corporate clients, and public sector institutions.

Mapfre

Market Cap: €12.1b

Engages in the investment, insurance, property, financial, and services businesses in Spain.

Ryan Specialty Holdings

Market Cap: US$14.0b

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, and Singapore.

Grupo Cibest

Market Cap: Col$54.7t

Provides banking products and services in Colombia and internationally.

Gjensidige Forsikring

Market Cap: NOK 140.3b

Provides general insurance and pension products in Norway, Sweden, Denmark, Finland, Latvia, Lithuania, and Estonia.

Bankinter

Market Cap: €12.0b

Provides various banking products and services to individuals, corporates, and small- and medium-sized enterprises in Spain, Luxembourg, Portugal, and Ireland.

Budweiser Brewing Company APAC

Market Cap: HK$107.5b

An investment holding company, engages in brewing and distribution of beer in South Korea, Japan, New Zealand, China, India, Vietnam, and internationally.

Origin Energy

Market Cap: AU$21.3b

An integrated energy company, engages in the exploration and production of natural gas, electricity generation, wholesale and retail sale of electricity and gas, and sale of liquefied natural gas in Australia and internationally.

Suncorp Group

Market Cap: AU$21.2b

Provides insurance products to retail, corporate, and commercial customers in Australia and New Zealand.

Brookfield Wealth Solutions

Market Cap: US$13.8b

Through its subsidiaries, provides retirement services, wealth protection products, and capital solutions to individuals and institutions.

Bank Polska Kasa Opieki

Market Cap: zł50.2b

A commercial bank, provides banking products and services to retail and corporate clients in Poland.

Etihad Etisalat

Market Cap: ر.س51.5b

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

Power Assets Holdings

Market Cap: HK$106.6b

An investment holding company, engages in the generation, transmission, and distribution of electricity in Hong Kong, the United Kingdom, Australia, and internationally.

SCB X

Market Cap: ฿449.5b

Engages banking, consumer and digital finance, and platform and technology businesses in Thailand and internationally.

First Financial Holding

Market Cap: NT$419.9b

Through its subsidiaries, provides various financial products and services in Taiwan, Asia, America, Europe, Oceania, and internationally.

ASR Nederland

Market Cap: €11.7b

Provides insurance, pensions, and mortgages products and services for consumers, entrepreneurs, and employers in the Netherlands.

East West Bancorp

Market Cap: US$13.6b

Operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States.

Elia Group

Market Cap: €11.7b

Develops and operates as a transmission system operator in Belgium and Germany.

Brown-Forman

Market Cap: US$13.5b

Manufactures, distills, bottles, imports, exports, markets, and sells a variety of alcohol beverages.

FinecoBank Banca Fineco

Market Cap: €11.6b

Provides banking, credit, trading and investment services in Italy.

Hua Nan Financial Holdings

Market Cap: NT$414.7b

Provides financial services in Taiwan and internationally.

GAIL (India)

Market Cap: ₹1.2t

Operates as a natural gas processing and distribution company in India and internationally.