Highest P/E Ratio:
 United States: 23.41
Highest deviation vs 10Y Avg P/E:
Europe: +2.29 σ

An investor may prefer to invest in an entire continent or geographic area because it provides diversification and spread of risk.

Investing in a larger area, such as an entire continent, provides exposure to a broader range of markets and industries, reducing the impact of negative events in any one specific market.

CONTINENTS P/E RATIO
Markets grouped geographically
Last Update: 13 November 2026
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P/E Evaluation
Historical P/E Average
P/E Deviation vs Avg
Trend Margin
Country P/E Ratio▾ 5 Years 10 Years 20 Years 5 Years 10 Years 20 Years 5 Years 10 Years 20 Years vs SMA-200 Time (ET)
VTI United States 23.41
Fair
Fair
Overvalued
 23.16 20.65 17.10
+0.09 σ
+0.92 σ
+1.98 σ
 +2.86% 13 Nov
VT All World 19.93
Fair
Overvalued
Expensive
 19.05 17.51 15.12
+0.40 σ
+1.14 σ
+2.16 σ
 +1.29% 13 Nov
VGK Europe 17.71
Overvalued
Expensive
Expensive
 14.72 14.16 12.78
+1.33 σ
+2.29 σ
+2.92 σ
 +1.22% 13 Nov
AAXJ Asia ex-Japan 15.56
Fair
Fair
Overvalued
 14.66 14.45 13.58
+0.60 σ
+0.85 σ
+1.42 σ
 -4.46% 13 Nov
VPL Pacific 13.81
Fair
Fair
Fair
 14.54 14.62 14.29
-0.51 σ
-0.70 σ
-0.40 σ
 -2.85% 13 Nov
AFK Africa 10.89
Fair
Fair
Fair
 10.42 12.13 12.26
+0.60 σ
-0.76 σ
-0.93 σ
 -5.46% 13 Nov
FLLA Latin America 10.39
Overvalued
Fair
Fair
 9.01 10.96 11.63
+1.19 σ
-0.31 σ
-0.87 σ
 -8.12% 13 Nov
Methodology

The Average P/E (μ) and the Standard Deviation (σ) are calculated excluding 20% outliers (i.e. over a range of values excluding 10% of observations from the top and 10% from the bottom of the dataset). Additionally, P/E values greater than 70 or lower than 1 are logarithmically normalized to reduce distortions.

A P/E between (μ - σ) and (μ + σ) is considered "Fair", over a specific timeframe.
A P/E greater than (μ + σ) is defined "Overvalued", greater than (μ + 2σ) is defined "Expensive".
A P/E less than (μ - σ) is defined "Undervalued", less than (μ - 2σ) is defined "Cheap".

The Trend is considered positive if the ETF price is higher than the 200-day moving average (SMA).

CONTINENTS - EVALUATION DIAGRAM
Long Term Trend and P/E Ratio
Last Update: 13 November 2026