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.

Highest P/E Ratio:
 United States: 27.60
Highest deviation vs 10Y Avg P/E:
Europe: +3.32 σ
CONTINENTS P/E RATIO
Markets grouped geographically
Last Update: 10 November 2025
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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 27.60
Expensive
Expensive
Expensive
 22.26 19.59 16.54
+2.43 σ
+3.07 σ
+4.09 σ
 +11.12% 10 Nov
VT All World 22.41
Expensive
Expensive
Expensive
 18.41 16.78 14.75
+2.30 σ
+3.11 σ
+4.11 σ
 +11.04% 10 Nov
VGK Europe 17.71
Expensive
Expensive
Expensive
 14.09 13.80 12.55
+2.09 σ
+3.32 σ
+3.45 σ
 +7.29% 10 Nov
AAXJ Asia ex-Japan 17.55
Expensive
Expensive
Expensive
 14.57 14.00 13.38
+2.24 σ
+3.19 σ
+3.35 σ
 +16.27% 10 Nov
VPL Pacific 16.86
Expensive
Expensive
Expensive
 14.40 14.30 14.26
+2.10 σ
+2.79 σ
+2.27 σ
 +14.05% 10 Nov
AFK Africa 12.13
Overvalued
Fair
Fair
 10.65 12.50 12.29
+1.42 σ
-0.21 σ
-0.11 σ
 +22.28% 10 Nov
FLLA Latin America 10.59
Overvalued
Fair
Fair
 8.99 11.16 11.55
+1.41 σ
-0.30 σ
-0.66 σ
 +16.36% 10 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: 10 November 2025