Serbian Utilities Defensive Blue Chips

Humana

Market Cap: US$31.5b

Provides medical and specialty insurance products in the United States.

Cathay Financial Holding

Market Cap: NT$965.2b

Through its subsidiaries, provides various financial products and services in Taiwan, rest of Asia, and internationally.

Ping An Bank

Market Cap: CN¥223.9b

Provides commercial banking products and services for individual and corporate customers, government agencies, institutions, and other small businesses in China and internationally.

ASM International

Market Cap: €26.8b

Engages in the research, development, manufacture, marketing, and servicing of equipment and materials used to produce semiconductor devices in Europe, the United States, and Asia.

Fresenius SE KGaA

Market Cap: €26.6b

A health care company, provides products and services for chronically ill patients.

Swiss Life Holding

Market Cap: CHF 24.6b

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

Fomento Económico Mexicano. de

Market Cap: Mex$571.9b

Through its subsidiaries, operates as a franchise bottler of Coca-Cola trademark beverages worldwide.

Brown & Brown

Market Cap: US$31.0b

Brown & Brown, Inc. markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally.

Power Grid Corporation of India

Market Cap: ₹2.7t

An electric power transmission utility, engages in the power transmission business in India and internationally.

Poste Italiane

Market Cap: €26.4b

Provides postal, logistics, and financial and insurance products and services in Italy.

Federal Home Loan Mortgage

Market Cap: US$30.8b

Operates in the secondary mortgage market in the United States.

Archer-Daniels-Midland

Market Cap: US$30.5b

Engages in the procurement, transportation, storage, processing, and merchandising of agricultural commodities, ingredients, flavors, and solutions.

Sampo Oyj

Market Cap: €25.9b

Provides non-life insurance products and services in Finland, Sweden, Norway, Denmark, Estonia, Lithuania, Latvia, Spain, Gibraltar, Germany, the Netherlands, France, and the United Kingdom.

National Bank of KuwaitK.P

Market Cap: د.ك9.2b

Provides financial and investment services and solutions to individual, corporate, and institutional clients in Kuwait, the Middle East, North Africa, Europe, the United Kingdom, and internationally.

Kraft Heinz

Market Cap: US$29.8b

Manufactures and markets food and beverage products in North America and internationally.

Naturgy Energy Group

Market Cap: €25.5b

Engages in the supply, liquefaction, regasification, transport, storage, distribution, and sale of gas.

Telefónica

Market Cap: €25.1b

Provides telecommunications services in Europe and Latin America.

Abu Dhabi Commercial Bank PJSC

Market Cap: د.إ107.6b

Provides banking products and services in the United Arab Emirates and internationally.

KB Financial Group

Market Cap: ₩41.4t

Provides various banking and related financial services to consumers and corporations in South Korea, the United States, New Zealand, China, Cambodia, the United Kingdom, Indonesia, and internationally.

Sompo Holdings

Market Cap: JP¥4.4t

Provides property and casualty insurance services in Japan and internationally.

W. R. Berkley

Market Cap: US$29.0b

An insurance holding company, operates as a commercial line writer worldwide.

M&T Bank

Market Cap: US$28.9b

Operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that provides retail and commercial banking products and services in the United States.

American Water Works Company

Market Cap: US$28.8b

Through its subsidiaries, provides water and wastewater services in the United States.

Kellanova

Market Cap: US$28.8b

Manufactures and markets snacks and convenience foods in North America, Europe, Latin America, the Asia Pacific, the Middle East, Australia, and Africa.

Atmos Energy

Market Cap: US$28.8b

Engages in the regulated natural gas distribution, and pipeline and storage businesses in the United States.

Bank of Jiangsu

Market Cap: CN¥202.6b

Provides various banking products and services in China.

Fifth Third Bancorp

Market Cap: US$28.4b

Operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States.

Luzhou LaojiaoLtd

Market Cap: CN¥201.7b

Produces and sells alcoholic products in China and internationally.

Malayan Banking Berhad

Market Cap: RM 119.8b

Provides commercial banking and related financial products and services.

China Everbright Bank

Market Cap: CN¥200.8b

Provides a range of financial products and services to corporations and government agencies, retail customers, and individuals in Mainland China, Hong Kong, Luxembourg, Macao, Seoul, and Sydney.

Nestlé India

Market Cap: ₹2.5t

Engages in the manufacture and sale of food products in India and internationally.

Bank Leumi le-Israel B.M

Market Cap: ₪92.7b

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

Power Corporation of Canada

Market Cap: CA$39.1b

An international management and holding company, provides financial services in North America, Europe, and Asia.

Vodafone Group

Market Cap: UK£20.6b

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

SSE

Market Cap: UK£20.5b

Engages in the generation, transmission, distribution, and supply of electricity.

Japan Post Holdings

Market Cap: JP¥4.1t

Provides postal, banking, and insurance services in Japan.