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: 27.91
Highest deviation vs 10Y Avg P/E:
Europe: +3.93 σ
CONTINENTS P/E RATIO
Markets grouped geographically
Last Update: 12 December 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 27.91
Expensive
Expensive
Expensive
 22.34 19.68 16.58
+2.46 σ
+3.10 σ
+4.13 σ
 +10.04% 12 Dec
VT All World 23.25
Expensive
Expensive
Expensive
 18.46 16.84 14.78
+2.68 σ
+3.47 σ
+4.47 σ
 +9.62% 12 Dec
VGK Europe 18.56
Expensive
Expensive
Expensive
 14.11 13.82 12.57
+2.51 σ
+3.93 σ
+3.96 σ
 +7.62% 12 Dec
VPL Pacific 17.68
Expensive
Expensive
Expensive
 14.40 14.32 14.27
+2.80 σ
+3.57 σ
+2.96 σ
 +11.04% 12 Dec
AAXJ Asia ex-Japan 16.64
Overvalued
Expensive
Expensive
 14.59 14.05 13.40
+1.52 σ
+2.29 σ
+2.58 σ
 +9.58% 12 Dec
AFK Africa 12.04
Overvalued
Fair
Fair
 10.64 12.47 12.29
+1.41 σ
-0.24 σ
-0.17 σ
 +21.35% 12 Dec
FLLA Latin America 11.02
Overvalued
Fair
Fair
 8.98 11.14 11.56
+1.84 σ
-0.06 σ
-0.37 σ
 +15.95% 12 Dec
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: 12 December 2025