My pick for the foreign funds is International Dividend ( PID) -- it has a more consistent performance and a lower average price-to-earnings ratio. In terms of income funds, I would pick Dynamic Leisure and Entertainment ( PEJ). The fund's three-month return of 18.9% is hard to ignore, even if its focus may not make it the classic defensive play. For the health sector, the only fund on our radar is Dynamic Pharmaceuticals ( PJP). The thing I like about this fund is the consistency of its near-term performance. Investors can also pick and choose from the list to construct a diversified portfolio of defensive funds.