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: 26.89
Highest deviation vs 10Y Avg P/E:
Europe: +3.53 σ
CONTINENTS P/E RATIO
Markets grouped geographically
Last Update: 26 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 26.89
Expensive
Expensive
Expensive
 22.34 19.68 16.58
+2.01 σ
+2.71 σ
+3.76 σ
 +10.37% 26 Dec
VT All World 22.43
Expensive
Expensive
Expensive
 18.46 16.84 14.78
+2.22 σ
+3.03 σ
+4.04 σ
 +9.74% 26 Dec
VGK Europe 18.07
Expensive
Expensive
Expensive
 14.11 13.82 12.57
+2.24 σ
+3.53 σ
+3.64 σ
 +8.56% 26 Dec
AAXJ Asia ex-Japan 16.89
Overvalued
Expensive
Expensive
 14.59 14.05 13.40
+1.70 σ
+2.51 σ
+2.78 σ
 +10.24% 26 Dec
VPL Pacific 16.62
Overvalued
Expensive
Expensive
 14.40 14.32 14.27
+1.89 σ
+2.44 σ
+2.04 σ
 +8.98% 26 Dec
AFK Africa 12.75
Expensive
Fair
Fair
 10.64 12.47 12.29
+2.10 σ
+0.16 σ
+0.32 σ
 +25.79% 26 Dec
FLLA Latin America 10.72
Overvalued
Fair
Fair
 8.98 11.14 11.56
+1.57 σ
-0.22 σ
-0.58 σ
 +11.45% 26 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: 26 December 2025