Low-volatility stocks such as Apple and AbbVie could emerge as winners in a trade war, according to Evercore ISI. Weeks of simmering trade tensions have erupted into a global trade war as President Donald Trump 's tariffs on key trade partners Canada and Mexico took effect on Tuesday, leading to retaliatory measures and fears about economic stagnation. The S & P 500 , Nasdaq Composite and Dow Jones Industrial Average are down about 2% week to date as a result. Low-volatility stocks outperformed in February trading as signs of the trade war emerged and uncertainty weighed on markets, Evercore found. These stocks also outperformed during similar trade tensions and tariff uncertainties in 2018, during Trump's first presidential term. "Defense remains the best offense," senior managing director Julian Emanuel wrote in a Monday note to clients. "With Trade War 2.0 moving to the next act with more tariffs scheduled to come into force starting 3/4, EVR ISI Strategy sees the battle as having been joined, with low volatility leading defensive factor performance in the weeks and months ahead." He listed a slew of "trade war heroes." These names are Russell 3000 stocks that are in the top quintile for low volatility and buybacks. Take a look at the stocks: A slew of health-care giants — including AbbVie , Centene , Humana , DaVita and UnitedHealth Group — could perform well during this trade war, according to Evercore. Health-care stocks are generally considered a defensive hedge in an investment portfolio, as they tend to hold up better than more growth-oriented sectors during an economic slowdown. These stocks mentioned by Evercore have varying performances in 2025, but year to date, the health-care sector is up 8%, making it the top S & P 500 sector during the period, per FactSet data. AbbVie is one name that is having a strong 2025, up 17%. The company posted fourth-quarter results that topped Wall Street's estimates in late January, and it recently entered the high-flying obesity space. DaVita's shares are down nearly 4% this year, but the kidney health company could be poised for a breakout. A recent chart analysis suggests DaVita could see strong long-term performance compared to the S & P 500. Apple also made the cut as a strong defensive pick. The tech giant has seen shares drop 4.7% this year. Ben Reitzes, head of technology research at Melius Research, said earlier this week that Apple has become the safe-haven play of the "Magnificent Seven" since the DeepSeek emergence, as more use of artificial intelligence could lead to a new upgrade cycle for iPhones. Other stocks that could give investors a measure of safety during this trade war are defense stocks Booz Allen Hamilton and Lockheed Martin . Booz Allen is off nearly 16% in 2025, while Lockheed is down more than 6%. These two stocks have suffered this year on concerns that the U.S. could significantly cut defense spending. However, defense contractors are considered to be less tied to the broader market's performance and therefore more reliable during periods of volatility, as they are more dependent on government budgets and war-related activities rather than the state of the economy.