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: 27.07
Highest deviation vs 10Y Avg P/E:
Europe: +3.81 σ
CONTINENTS P/E RATIO
Markets grouped geographically
Last Update: 16 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 27.07
Overvalued
Expensive
Expensive
 22.42 19.77 16.63
+2.00 σ
+2.69 σ
+3.76 σ
 +9.53% 16 Jan
VT All World 22.82
Expensive
Expensive
Expensive
 18.49 16.90 14.80
+2.37 σ
+3.14 σ
+4.16 σ
 +10.06% 16 Jan
VGK Europe 18.54
Expensive
Expensive
Expensive
 14.13 13.84 12.59
+2.46 σ
+3.81 σ
+3.90 σ
 +10.07% 16 Jan
VPL Pacific 17.63
Expensive
Expensive
Expensive
 14.40 14.35 14.27
+2.75 σ
+3.40 σ
+2.90 σ
 +13.72% 16 Jan
AAXJ Asia ex-Japan 17.32
Expensive
Expensive
Expensive
 14.58 14.09 13.42
+2.04 σ
+2.80 σ
+3.08 σ
 +14.69% 16 Jan
AFK Africa 13.09
Expensive
Fair
Fair
 10.63 12.45 12.29
+2.47 σ
+0.37 σ
+0.56 σ
 +24.06% 16 Jan
FLLA Latin America 11.46
Expensive
Fair
Fair
 8.97 11.13 11.56
+2.28 σ
+0.17 σ
-0.07 σ
 +14.97% 16 Jan
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: 16 January 2026