Serbian Utilities Defensive Blue Chips

Coca-Cola Consolidated

Market Cap: US$12.2b

Manufactures, markets, and distributes nonalcoholic beverages in the United States.

KT&G

Market Cap: ₩18.7t

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

Realtek Semiconductor

Market Cap: NT$384.1b

Engages in the research, development, production, and sale of various integrated circuits and related application software in Taiwan, Asia, 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.

Almarai

Market Cap: ر.س45.4b

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

SG Micro

Market Cap: CN¥81.6b

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.

Bank of Chengdu

Market Cap: CN¥81.5b

Provides various banking products and services in China.

J. M. Smucker

Market Cap: US$12.0b

Manufactures and markets branded food and beverage products worldwide.

Beijing E-Town Semiconductor Technology

Market Cap: CN¥81.5b

Beijing E-Town Semiconductor Technology Co., Ltd.

Israel Discount Bank

Market Cap: ₪35.4b

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

Zhejiang Zheneng Electric Power

Market Cap: CN¥81.0b

Zhejiang Zheneng Electric Power Co., Ltd.

Shanghai Rural Commercial Bank

Market Cap: CN¥80.9b

Engages in commercial banking business in China.

Sanan OptoelectronicsLtd

Market Cap: CN¥80.8b

Engages in the research, development, production, and sale of compound semiconductor materials and devices in China and internationally.

iA Financial

Market Cap: CA$16.8b

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

Commercial Bank for Investment and Development of Vietnam

Market Cap: ₫311.2t

Provides various banking products and services in Vietnam and internationally.

Henan Shuanghui Investment & DevelopmentLtd

Market Cap: CN¥79.9b

Henan Shuanghui Investment & Development Co.,Ltd.

Konfoong Materials International

Market Cap: CN¥79.7b

Konfoong Materials International Co., Ltd.

Kinsus Interconnect Technology

Market Cap: NT$372.0b

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

Great Eastern Holdings

Market Cap: S$15.2b

An investment holding company, provides insurance products in Singapore, Malaysia, and rest of Asia.

First Horizon

Market Cap: US$11.7b

Operates as the bank holding company for First Horizon Bank that provides various financial services.

Brown-Forman

Market Cap: US$11.7b

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

Tata Consumer Products

Market Cap: ₹1.1t

Manufactures, distributes, and trades in food products in India, the United States, the United Kingdom, and internationally.

FormFactor

Market Cap: US$11.7b

Designs, manufactures, and sells probe cards, analytical probes, probe stations, thermal systems, cryogenic systems, and related services in the United States, South Korea, Taiwan, China, Japan, Singapore, Europe, Malaysia, and internationally.

Erie Indemnity

Market Cap: US$11.6b

Operates as a managing attorney-in-fact for the subscribers at the Erie Insurance Exchange in the United States.

Indus Towers

Market Cap: ₹1.1t

A telecom infrastructure company, engages in the operation and maintenance of wireless communication towers and related infrastructures for various telecom service providers in India, Nigeria, Uganda, and Zambia.

HKT Trust and HKT

Market Cap: HK$90.8b

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.

Discovery

Market Cap: R190.0b

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

Saputo

Market Cap: CA$16.2b

Produces, markets, and distributes dairy products in Canada, the United States, Australia, and the United Kingdom.

China Zheshang Bank

Market Cap: HK$89.8b

Provides corporate and retail banking services in Mainland China.

Guangxi Guiguan Electric PowerCo.Ltd

Market Cap: CN¥77.3b

Engages in the generation and sale of electricity in China.

Taiwan Mobile

Market Cap: NT$360.6b

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

Sanlam

Market Cap: R187.7b

Provides various financial services in South Africa, Pan-Africa, Asia, and internationally.

Aier Eye Hospital Group

Market Cap: CN¥77.1b

Operates as an ophthalmic medical company in China, Hong Kong, Europe, the United States, Europe, and Southeast Asia.

Arab National Bank

Market Cap: ر.س42.7b

Provides various banking products and services in the Kingdom of Saudi Arabia, Other GCC and the Middle East, Europe, North America, Latin America, Southeast Asia, and internationally.

Maxone Semiconductor (Suzhou)

Market Cap: CN¥76.7b

Engages in the research, development, design, and manufacturing of semiconductor test solution products.

Henan Shijia Photons Technology

Market Cap: CN¥76.6b

Henan Shijia Photons Technology Co., Ltd.