Serbian Consumer Durables Defensive Blue Chips

SG Micro

Market Cap: CN¥71.6b

Engages in the development, manufacturing and sales of comprehensive analog and mixed-signal integrated-circuit (IC) solutions in Mainland China, Hong Kong, Taiwan, and internationally.

Discovery

Market Cap: R172.3b

Provides various insurance products and services primarily in South Africa and the United Kingdom.

Zions Bancorporation National Association

Market Cap: US$10.5b

Provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming.

J Sainsbury

Market Cap: UK£7.7b

Engages in the food, general merchandise and clothing retailing, and financial services activities in the United Kingdom.

Silicon Motion Technology

Market Cap: US$10.5b

Designs, develops, and markets NAND flash controllers for solid-state storage devices and related devices in China, Japan, Singapore, Taiwan, Korea, the United States, and internationally.

Manila Electric

Market Cap: ₱642.4b

Manila Electric Company holds a congressional franchise to construct, operate, and maintain an electric distribution system in the Philippines.

Marks and Spencer Group

Market Cap: UK£7.7b

Operates various retail stores.

KINGSEMI

Market Cap: CN¥70.3b

Engages in the research and development, production, sales, and service provision of semiconductor fabrication equipment in China and internationally.

Taiwan Mobile

Market Cap: NT$334.9b

Provides telecommunications, broadband, retail, digital, and financial services in Taiwan and internationally.

OPC Energy

Market Cap: ₪31.2b

Engages in the development, construction, operation, generation, and supply of electricity and energy in Israel.

Alpha Bank

Market Cap: €9.0b

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

Globalstar

Market Cap: US$10.3b

Provides mobile satellite services in the United States, Canada, Europe, Central and South America, and internationally.

Globus Medical

Market Cap: US$10.3b

Develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally.

Beazley

Market Cap: UK£7.6b

Through its subsidiaries, provides risk insurance and reinsurance solutions in the United States, the United Kingdom, and rest of Europe.

Lotus Bakeries

Market Cap: €8.9b

Provides various snack products in Belgium and internationally.

OGE Energy

Market Cap: US$10.2b

Through its subsidiaries, generates, transmits, distributes, and sells electric energy in the United States.

Tianshui Huatian Technology

Market Cap: CN¥69.1b

Engages in research, development, production, packaging, testing, and sales of semiconductor integrated circuits in China and internationally.

United Spirits

Market Cap: ₹981.0b

Manufactures, sells, and distributes alcoholic beverages and other allied spirits in India and internationally.

Old National Bancorp

Market Cap: US$10.2b

Operates as the bank holding company for Old National Bank that provides consumer and commercial banking services in the United States.

Eneva

Market Cap: R$51.6b

An integrated energy company, engages in the exploration, production, and commercialization of natural gas and liquids in Brazil.

Shree Cement

Market Cap: ₹974.2b

Engages in the manufacture and sale of cement and clinker in India and internationally.

Bank of Ayudhya

Market Cap: ฿338.4b

Provides commercial banking products and services to individuals, corporates, small and medium-sized businesses, and financial institutions.

Powerchip Semiconductor Manufacturing

Market Cap: NT$324.7b

Powerchip Semiconductor Manufacturing Corporation, together with its subsidiaries, engages in the research and development, manufacturing, testing, packaging, and sale of integrated circuit products in Taiwan, the United States, China, and internationally.

Zhejiang Zheneng Electric Power

Market Cap: CN¥67.7b

Zhejiang Zheneng Electric Power Co., Ltd.