Zambian Consumer Services Defensive Blue Chips

Orange

Market Cap: €42.9b

Operates as a telecommunications operator in France and internationally.

Becton Dickinson

Market Cap: US$49.4b

Develops, manufactures, and sells medical supplies, devices, laboratory equipment, and diagnostic products for healthcare institutions, physicians, life science researchers, clinical laboratories, pharmaceutical industry, and the general public worldwide.

Sberbank of Russia

Market Cap: ₽3.0t

Sberbank of Russia, together with its subsidiaries, provides corporate and retail banking products and services to individuals, small businesses, corporate clients, and financial institutions.

STMicroelectronics

Market Cap: €42.6b

Designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

Emirates Telecommunications Group Company PJSC

Market Cap: د.إ180.4b

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

Endesa

Market Cap: €42.4b

Engages in the generation, distribution, and sale of electricity in Spain, Portugal, France, Germany, the United Kingdom, Switzerland, Luxembourg, the Netherlands, Singapore, Italy, Morocco, and internationally.

Commerzbank

Market Cap: €42.4b

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, and Asia.

Holcim

Market Cap: CHF 39.6b

Provides building materials and solutions in Europe, Latin America, and Asia, Middle East, and Africa.

Wal-Mart de México. de

Market Cap: Mex$832.7b

Owns and operates self-service stores in Mexico and Central America.

Vistra

Market Cap: US$48.6b

Operates as an integrated retail electricity and power generation company in the United States.

Kuwait Finance House K.S.C.P

Market Cap: د.ك14.9b

Provides Islamic banking products and services in the Middle East, Europe, and internationally.

United Microelectronics

Market Cap: NT$1.5t

Operates as a semiconductor wafer foundry in Taiwan, China, Hong Kong, Japan, Korea, the United States, Europe, and internationally.

Heineken

Market Cap: €41.0b

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

DNB Bank

Market Cap: NOK 444.7b

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

RWE

Market Cap: €40.6b

Generates and supplies electricity from renewable and conventional sources in Germany, the United Kingdom, rest of Europe, North America, and internationally.

Coca-Cola Europacific Partners

Market Cap: €40.3b

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

Nanya Technology

Market Cap: NT$1.5t

Research, develops, manufactures, and sells semiconductor products in Taiwan, Japan, Malaysia, China, the United States, Thailand, Germany, Singapore, Poland and internationally.

Danske Bank

Market Cap: DKK 300.0b

Provides various banking products and services to corporate, institutional, and international clients.

IDEXX Laboratories

Market Cap: US$46.2b

Develops, manufactures, and distributes products for the companion animal veterinary, livestock and poultry, dairy, and water testing industries in the United States and internationally.

Credo Technology Group Holding

Market Cap: US$46.2b

Provides various high-speed connectivity solutions for optical and electrical Ethernet and PCIe applications in the United States, Taiwan, Mainland China, Hong Kong, and other international markets.

Cathay Financial Holding

Market Cap: NT$1.5t

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

Shanghai Pudong Development Bank

Market Cap: CN¥305.4b

Provides commercial banking products and services in China and internationally.

Skandinaviska Enskilda Banken

Market Cap: SEK 430.2b

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

Sun Life Financial

Market Cap: CA$62.5b

A financial services company, provides asset management, wealth, insurance and health solutions to individual and institutional customers in Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia, and Bermuda.

Ambev

Market Cap: R$231.9b

Through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, soft drinks, malt and food, and other beverages in Brazil, Central America and Caribbean, Latin America South, and Canada.

Humana

Market Cap: US$44.8b

Provides medical and specialty insurance products in the United States.

Swedbank

Market Cap: SEK 424.2b

Provides banking products and services to private and corporate customers in Sweden, Estonia, Latvia, Lithuania, Norway, the United States, Finland, Denmark, Luxembourg, and China.

MS&AD Insurance Group Holdings

Market Cap: JP¥7.0t

An insurance holding company, engages in the provision of insurance and financial services worldwide.

Microchip Technology

Market Cap: US$44.0b

Develops, manufactures, and sells smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia.

PICC Property and Casualty

Market Cap: HK$345.2b

Engages in property and casualty insurance business in People’s Republic of China.

Renesas Electronics

Market Cap: JP¥7.0t

Engages in the design, research, development, manufacturing, sale, and service of semiconductors in Japan, China, rest of Asia, Europe, North America, and internationally.

Bank Central Asia

Market Cap: Rp780.0t

Provides commercial banking and other financial services.

Wuliangye YibinLtd

Market Cap: CN¥292.2b

Manufactures and sells liquor and wine products and related auxiliary products under the Wuliangye brand in China.

GigaDevice Semiconductor

Market Cap: CN¥290.9b

Engages in the research, development, technical support, and sale of memory, microcontrollers, sensors, and analog chips.

Disco

Market Cap: JP¥6.8t

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

Daiichi Life Group

Market Cap: JP¥6.8t

Through its subsidiaries, provides insurance products in Japan, the United States, and internationally.