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: 26.53
Highest deviation vs 10Y Avg P/E:
Europe: +3.60 σ
CONTINENTS P/E RATIO
Markets grouped geographically
Last Update: 20 January 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 26.53
Overvalued
Expensive
Expensive
 22.42 19.77 16.63
+1.77 σ
+2.50 σ
+3.56 σ
 +7.28% 09:30 AM
VT All World 22.42
Expensive
Expensive
Expensive
 18.49 16.90 14.80
+2.16 σ
+2.93 σ
+3.96 σ
 +8.07% 09:30 AM
VGK Europe 18.28
Expensive
Expensive
Expensive
 14.13 13.84 12.59
+2.31 σ
+3.60 σ
+3.73 σ
 +8.43% 09:30 AM
VPL Pacific 17.36
Expensive
Expensive
Expensive
 14.40 14.35 14.27
+2.52 σ
+3.12 σ
+2.67 σ
 +11.87% 09:30 AM
AAXJ Asia ex-Japan 17.11
Overvalued
Expensive
Expensive
 14.58 14.09 13.42
+1.89 σ
+2.62 σ
+2.92 σ
 +13.16% 09:30 AM
AFK Africa 13.38
Expensive
Fair
Fair
 10.63 12.45 12.29
+2.76 σ
+0.54 σ
+0.76 σ
 +26.43% 09:30 AM
FLLA Latin America 11.55
Expensive
Fair
Fair
 8.97 11.13 11.56
+2.36 σ
+0.22 σ
-0.01 σ
 +15.65% 09:30 AM
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: 20 January 2026