Serbian Consumer Services Defensive Blue Chips

Caixa Seguridade Participações

Market Cap: R$67.0b

Provides insurance products in Brazil and internationally.

Piraeus Bank

Market Cap: €11.6b

Provides various banking products and services in Greece, Europe, and internationally.

Punjab National Bank

Market Cap: ₹1.3t

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

Bank of Baroda

Market Cap: ₹1.3t

Provides various banking products and services to individuals, government departments, and corporate customers in India and internationally.

Fresenius Medical Care

Market Cap: €11.5b

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

Phison Electronics

Market Cap: NT$423.4b

Designs, manufactures, and sells flash memory controllers and peripheral system applications in Asia, the United States, Europe, Australia, and internationally.

National Silicon Industry Group

Market Cap: CN¥87.9b

National Silicon Industry Group Co., Ltd.

Yokohama Financial Group

Market Cap: JP¥2.1t

Provides various banking products and services to small and medium-sized businesses and individuals in Japan and internationally.

Kinsus Interconnect Technology

Market Cap: NT$419.4b

Engages in the manufacture and sale of electronic products in Taiwan and internationally.

iA Financial

Market Cap: CA$18.1b

Provides insurance and wealth management services for individual and group basis in Canada and the United States.

Beijing E-Town Semiconductor Technology

Market Cap: CN¥86.9b

Beijing E-Town Semiconductor Technology Co., Ltd.

Etihad Etisalat

Market Cap: ر.س48.0b

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

Henan Shuanghui Investment & DevelopmentLtd

Market Cap: CN¥86.6b

Henan Shuanghui Investment & Development Co.,Ltd.

Israel Discount Bank

Market Cap: ₪39.1b

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

China Resources Power Holdings

Market Cap: HK$100.0b

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

MTN Nigeria Communications

Market Cap: ₦17.5t

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

Pro Medicus

Market Cap: AU$18.1b

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.

Smith & Nephew

Market Cap: UK£9.5b

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

Osaka Gas

Market Cap: JP¥2.1t

Provides natural gas, electricity, and other energy products and services in Japan and internationally.

Dangote Cement

Market Cap: ₦17.3t

Engages in the preparation, manufacturing, distribution, and sale of cement and related products in Nigeria.

Origin Energy

Market Cap: AU$17.9b

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.

Align Technology

Market Cap: US$12.5b

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

Kokusai Electric

Market Cap: JP¥2.0t

Engages in the development, manufacture, sale, repair, and maintenance of semiconductor manufacturing equipment worldwide.

Penumbra

Market Cap: US$12.5b

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

Tokyo GasLtd

Market Cap: JP¥2.0t

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

HDFC Life Insurance

Market Cap: ₹1.2t

Engages in the provision of individual and group insurance solutions in India.

KT&G

Market Cap: ₩18.3t

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

African Distillers

Market Cap: US$1.6b

Manufactures, distributes, and markets wines, spirits, ready-to-drink (RTDs), and ciders in Zimbabwe.

CP ALL

Market Cap: ฿418.8b

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

China Resources Microelectronics

Market Cap: CN¥83.8b

Engages in the manufacture and sale of semiconductors in China and internationally.

Taiwan Cooperative Financial Holding

Market Cap: NT$400.6b

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

HKT Trust and HKT

Market Cap: HK$96.4b

An investment holding company, engages in the provision of technology, and satellite-and network-based telecommunications and related services in Hong Kong, Mainland China, and internationally.

BUA Foods

Market Cap: ₦16.9t

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

Brown-Forman

Market Cap: US$12.2b

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

Almarai

Market Cap: ر.س45.9b

Operates as an integrated consumer food and beverage company in Saudi Arabia, other Gulf Cooperation Council countries, and internationally.

Webster Financial

Market Cap: US$12.2b

Operates as the bank holding company for Webster Bank, National Association that provides various financial products and services to businesses, individuals, and families in the United States.