Venezuelan Telecom Defensive Blue Chips

Emirates Telecommunications Group Company PJSC

Market Cap: د.إ161.2b

Provides telecommunications services, media, and related equipment in the United Arab Emirates and internationally.

Emirates NBD Bank PJSC

Market Cap: د.إ160.4b

Provides corporate, institutional, retail, treasury, and Islamic banking services.

Kroger

Market Cap: US$42.9b

Operates as a food and drug retailer in the United States.

National Bank of Canada

Market Cap: CA$59.3b

Provides financial services to individuals, businesses, institutional clients, and governments in Canada and internationally.

Heineken

Market Cap: €36.3b

Heineken N.V. brews and sells beer and cider in the Americas, Europe, Africa, the Middle East, and the Asia Pacific.

JAPAN POST BANK

Market Cap: JP¥6.3t

Provides various banking products and services to retail and corporate clients in Japan and internationally.

Shenzhen Mindray Bio-Medical Electronics

Market Cap: CN¥297.1b

Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

Axis Bank

Market Cap: ₹3.7t

Provides various financial products and services in India and internationally.

Commerzbank

Market Cap: €35.3b

Provides banking and capital market products and services to private and small business customers, corporate, financial service providers, and institutional clients in Germany, rest of Europe, the Americas, Asia, and internationally.

ResMed

Market Cap: US$41.1b

Develops, manufactures, distributes, and markets medical devices and cloud-based software applications to diagnose, treat, and manage respiratory disorders in the United States and internationally.

Orange

Market Cap: €35.1b

Operates as a telecommunications operator in France and internationally.

QNB Bank

Market Cap: ₺1.7t

Provides various banking products and services in Turkey.

Public Service Enterprise Group

Market Cap: US$40.8b

Through its subsidiaries, operates in electric and gas utility, and nuclear generation businesses in the United States.

Target

Market Cap: US$40.4b

Operates as a general merchandise retailer in the United States.

UltraTech Cement

Market Cap: ₹3.6t

Engages in the manufacture and sale of clinker, cement, ready mix concrete, and related products in India, the United Arab Emirates, Bahrain, and Sri Lanka.

Vulcan Materials

Market Cap: US$40.3b

Produces and supplies construction aggregates in the United States.

Fubon Financial Holding

Market Cap: NT$1.2t

Provides various financial services in Taiwan, Asia, and internationally.

Muyuan Foods

Market Cap: CN¥284.5b

Operates in the hog industry in China.

Coca-Cola Europacific Partners

Market Cap: €34.1b

Produces, distributes, and sells a range of non-alcoholic ready to drink beverages.

DNB Bank

Market Cap: NOK 395.0b

Provides financial services to individuals and businesses in Norway and internationally.

Hershey

Market Cap: US$39.6b

Engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally.

CBZ Holdings

Market Cap: US$5.1b

Provides various banking and financial products and services to retail and corporate customers in Zimbabwe.

Fairfax Financial Holdings

Market Cap: CA$55.0b

Through its subsidiaries, provides property and casualty insurance and reinsurance, and investment management services in the United States, Canada, the Middle East, Asia, and internationally.

Skandinaviska Enskilda Banken

Market Cap: SEK 367.7b

Provides corporate, retail, investment, and private banking services.

Erste Group Bank

Market Cap: €33.5b

Provides a range of banking and other financial services to retail, corporate, and public sector customers.

Tesco

Market Cap: UK£29.1b

Operates as a grocery retailer in the United Kingdom, Republic of Ireland, the Czech Republic, Slovakia, and Hungary.

Federal Home Loan Mortgage

Market Cap: US$38.8b

Operates in the secondary mortgage market in the United States.

Heidelberg Materials

Market Cap: €33.2b

Produces and distributes cement, aggregates, ready-mixed concrete, and asphalt worldwide.

Sysco

Market Cap: US$38.7b

Through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally.

Martin Marietta Materials

Market Cap: US$38.4b

A natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally.

Disco

Market Cap: JP¥5.8t

Manufactures and sells precision cutting, grinding, and polishing machines in Japan and internationally.

Swisscom

Market Cap: CHF 30.5b

Provides telecommunication services primarily in Switzerland, Italy, and internationally.

Alcon

Market Cap: CHF 30.4b

Researches, develops, manufactures, distributes, and sells eye care products worldwide.

Great-West Lifeco

Market Cap: CA$53.1b

Engages in the life and health insurance, retirement savings, wealth and asset management, and reinsurance businesses in Canada, the United States, and Europe.

Hannover Rück

Market Cap: €32.0b

Provides reinsurance products and services in Germany, the United Kingdom, France, Europe, the United States, Asia, Australia, Africa, and internationally.

Hartford Insurance Group

Market Cap: US$37.3b

Provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally.