Highest P/E Ratio:
 United States: 24.62
Highest deviation vs 10Y Avg P/E:
Asia ex-Japan: +3.42 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: 02 September 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 24.62
Fair
Overvalued
Expensive
 23.07 20.51 17.01
+0.58 σ
+1.36 σ
+2.44 σ
 +7.45% 02 Sep
VT All World 21.43
Overvalued
Overvalued
Expensive
 18.97 17.41 15.06
+1.11 σ
+1.90 σ
+2.94 σ
 +7.31% 02 Sep
AAXJ Asia ex-Japan 18.94
Expensive
Expensive
Expensive
 14.69 14.44 13.57
+2.82 σ
+3.42 σ
+3.86 σ
 +10.34% 02 Sep
VPL Pacific 18.18
Expensive
Expensive
Expensive
 14.56 14.61 14.30
+2.54 σ
+3.10 σ
+3.22 σ
 +10.30% 02 Sep
VGK Europe 17.33
Overvalued
Expensive
Expensive
 14.56 14.09 12.73
+1.27 σ
+2.20 σ
+2.78 σ
 +4.78% 02 Sep
FLLA Latin America 11.88
Expensive
Fair
Fair
 9.01 11.04 11.64
+2.48 σ
+0.45 σ
+0.17 σ
 +4.17% 02 Sep
AFK Africa 11.19
Fair
Fair
Fair
 10.48 12.22 12.28
+0.85 σ
-0.63 σ
-0.75 σ
 +8.14% 02 Sep
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: 02 September 2026