Highest P/E Ratio:
 United States: 26.40
Highest deviation vs 10Y Avg P/E:
Asia ex-Japan: +3.29 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: 17 July 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 26.40
Overvalued
Expensive
Expensive
 22.92 20.34 16.90
+1.31 σ
+2.04 σ
+3.14 σ
 +6.85% 17 Jul
VT All World 22.16
Overvalued
Expensive
Expensive
 18.82 17.29 14.98
+1.57 σ
+2.37 σ
+3.41 σ
 +6.03% 17 Jul
AAXJ Asia ex-Japan 18.52
Expensive
Expensive
Expensive
 14.61 14.36 13.53
+2.84 σ
+3.29 σ
+3.68 σ
 +7.11% 17 Jul
VGK Europe 18.02
Overvalued
Expensive
Expensive
 14.40 14.03 12.69
+1.74 σ
+2.82 σ
+3.28 σ
 +4.13% 17 Jul
VPL Pacific 16.85
Overvalued
Expensive
Expensive
 14.45 14.55 14.29
+1.89 σ
+2.09 σ
+2.18 σ
 +7.16% 17 Jul
FLLA Latin America 11.53
Expensive
Fair
Fair
 8.98 11.09 11.63
+2.32 σ
+0.23 σ
-0.06 σ
 +1.45% 17 Jul
AFK Africa 10.64
Fair
Fair
Undervalued
 10.53 12.30 12.28
+0.13 σ
-0.99 σ
-1.13 σ
 -4.33% 17 Jul
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: 17 July 2026