Highest P/E Ratio:
 United States: 26.86
Highest deviation vs 10Y Avg P/E:
Asia ex-Japan: +4.22 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: 27 February 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 26.86
Overvalued
Expensive
Expensive
 22.49 19.87 16.67
+1.83 σ
+2.53 σ
+3.62 σ
 +5.11% 27 Feb
VT All World 22.82
Expensive
Expensive
Expensive
 18.52 16.97 14.83
+2.31 σ
+3.07 σ
+4.08 σ
 +8.51% 27 Feb
AAXJ Asia ex-Japan 19.08
Expensive
Expensive
Expensive
 14.58 14.14 13.44
+3.35 σ
+4.22 σ
+4.42 σ
 +18.05% 27 Feb
VGK Europe 18.83
Expensive
Expensive
Expensive
 14.16 13.87 12.60
+2.57 σ
+3.92 σ
+4.04 σ
 +11.61% 27 Feb
VPL Pacific 18.39
Expensive
Expensive
Expensive
 14.40 14.37 14.27
+3.40 σ
+4.06 σ
+3.55 σ
 +22.66% 27 Feb
AFK Africa 14.70
Expensive
Overvalued
Overvalued
 10.63 12.45 12.30
+4.09 σ
+1.31 σ
+1.68 σ
 +28.71% 27 Feb
FLLA Latin America 12.70
Expensive
Fair
Fair
 8.97 11.14 11.57
+3.42 σ
+0.81 σ
+0.79 σ
 +23.78% 27 Feb
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: 27 February 2026