Highest P/E Ratio:
 United States: 25.15
Highest deviation vs 10Y Avg P/E:
Asia ex-Japan: +3.07 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: 24 April 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 25.15
Fair
Overvalued
Expensive
 22.65 20.07 16.76
+0.99 σ
+1.78 σ
+2.90 σ
 +6.82% 24 Apr
VT All World 21.22
Overvalued
Expensive
Expensive
 18.62 17.10 14.89
+1.33 σ
+2.10 σ
+3.14 σ
 +7.63% 24 Apr
AAXJ Asia ex-Japan 17.92
Expensive
Expensive
Expensive
 14.58 14.23 13.47
+2.49 σ
+3.07 σ
+3.40 σ
 +15.72% 24 Apr
VGK Europe 17.28
Overvalued
Expensive
Expensive
 14.24 13.94 12.63
+1.59 σ
+2.52 σ
+2.95 σ
 +5.77% 24 Apr
VPL Pacific 17.07
Expensive
Expensive
Expensive
 14.40 14.45 14.27
+2.27 σ
+2.54 σ
+2.41 σ
 +12.94% 24 Apr
FLLA Latin America 12.78
Expensive
Fair
Fair
 8.97 11.14 11.60
+3.49 σ
+0.85 σ
+0.82 σ
 +18.64% 24 Apr
AFK Africa 10.97
Fair
Fair
Fair
 10.63 12.43 12.31
+0.34 σ
-0.86 σ
-0.93 σ
 +9.43% 24 Apr
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: 24 April 2026