Highest P/E Ratio:
 United States: 23.53
Highest deviation vs 10Y Avg P/E:
Europe: +2.00 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: 23 October 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 23.53
Fair
Fair
Expensive
 23.12 20.58 17.06
+0.15 σ
+0.98 σ
+2.06 σ
 +4.05% 09:30 AM
VT All World 20.01
Fair
Overvalued
Expensive
 19.01 17.46 15.09
+0.45 σ
+1.20 σ
+2.23 σ
 +2.21% 09:30 AM
VGK Europe 17.15
Overvalued
Expensive
Expensive
 14.63 14.12 12.76
+1.14 σ
+2.00 σ
+2.63 σ
 -1.79% 09:30 AM
VPL Pacific 14.09
Fair
Fair
Fair
 14.55 14.62 14.30
-0.32 σ
-0.46 σ
-0.17 σ
 -0.07% 09:30 AM
AAXJ Asia ex-Japan 14.06
Fair
Fair
Fair
 14.68 14.45 13.58
-0.41 σ
-0.30 σ
+0.35 σ
 -3.13% 09:30 AM
AFK Africa 11.33
Overvalued
Fair
Fair
 10.44 12.16 12.26
+1.10 σ
-0.51 σ
-0.63 σ
 -6.56% 09:30 AM
FLLA Latin America 11.16
Overvalued
Fair
Fair
 9.02 11.01 11.64
+1.83 σ
+0.08 σ
-0.34 σ
 +8.65% 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: 23 October 2026