Highest P/E Ratio:
 United States: 23.90
Highest deviation vs 10Y Avg P/E:
Europe: +2.34 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: 29 September 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 23.90
Fair
Overvalued
Expensive
 23.07 20.51 17.01
+0.31 σ
+1.12 σ
+2.21 σ
 +5.77% 29 Sep
VT All World 20.39
Fair
Overvalued
Expensive
 18.97 17.41 15.06
+0.64 σ
+1.41 σ
+2.46 σ
 +4.92% 29 Sep
VGK Europe 17.53
Overvalued
Expensive
Expensive
 14.56 14.09 12.73
+1.37 σ
+2.34 σ
+2.90 σ
 +0.30% 29 Sep
VPL Pacific 15.03
Fair
Fair
Fair
 14.56 14.61 14.30
+0.33 σ
+0.36 σ
+0.60 σ
 +8.72% 29 Sep
AAXJ Asia ex-Japan 14.92
Fair
Fair
Fair
 14.69 14.44 13.57
+0.15 σ
+0.37 σ
+0.97 σ
 +8.98% 29 Sep
FLLA Latin America 10.31
Overvalued
Fair
Fair
 9.01 11.04 11.64
+1.12 σ
-0.40 σ
-0.94 σ
 -1.21% 29 Sep
AFK Africa 9.82
Fair
Undervalued
Undervalued
 10.48 12.22 12.28
-0.80 σ
-1.46 σ
-1.69 σ
 +0.87% 29 Sep
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: 29 September 2026