VGK

Vanguard FTSE Europe ETF

#4 of 6 in Broad Regions by own-history percentile (high → low)

Near lows (10.7%)

Relative to SPY

Relative price history

VGK ÷ SPY, 10-year range, as of Jul 17, 2026

Position in 10-year rangeNear lows (10.7%)ranked vs 2,513 trading days

12m vs S&P 500-3.1%Change in relative price over ~12 months

Category rank#4of 6 in Broad Regions

~1 week change+6.0 ptsvs Jun 30, 2026 reading (4.7%)

~1 month change+8.0 ptsvs May 29, 2026 reading (2.7%)

Trailing PE18.3xas of Jul 17, 2026

Current ratio0.1192

AUM$37.9BFund assets under management

Avg volume2.8MApprox. 3-month daily shares

How the reading moved

These changes re-score an older VGK÷SPY ratio against today's 10-year window, so they show whether the relative price has drifted toward the highs or lows of its own history — not a peer ranking and not a return forecast.

About one week: +6.0 pts (from 4.7% on Jun 30, 2026 to 10.7% now)
About one month: +8.0 pts (from 2.7% on May 29, 2026 to 10.7% now)

Broad Regions

Where this sits among peers

Broad Regions · VGK highlighted · same axes as the category chart on the home page

Top holdings

SymbolNameWeight

ASML.ASASML Holding NV4.8%

HSBA.LHSBC Holdings PLC2.0%

NOVN.SWNovartis AG Registered Shares1.8%

ROP.SWRoche Holding AG Ordinary Shares new1.8%

AZN.LAstraZeneca PLC1.8%

NESN.SWNestle SA1.7%

SIE.DESiemens AG1.5%

SHEL.LShell PLC1.4%

SAN.MCBanco Santander SA1.3%

ALV.DEAllianz SE1.1%

Holdings snapshot as of Jul 17, 2026.

What moves this

VGK's valuation discount to the US has persisted for over a decade, and separating how much of that reflects sector mix (heavier banking and industrial exposure, lighter mega-cap tech) from how much reflects genuinely slower earnings growth is exactly what a simple cross-market PE comparison cannot do — which is why this page tracks Europe only against its own history.

FAQ

Why not just say Europe's PE is lower than the US's PE and call it cheap?

Europe has structurally traded at a lower PE than the US for most of the last two decades because of its sector mix — a persistent gap like that isn't the same as a mispricing.

So what does this page actually tell you?

It shows whether Europe's discount to the US is currently wider or narrower than it has typically been over Europe's own trailing 10-year history — a change in the gap, not the existence of the gap itself.

Does the Eurozone crisis still affect this data?

That period is now outside the rolling 10-year window used for the percentile, so it no longer directly affects the current reading, even though it shaped the basket's longer-run history.