Why European index ETFs have P/E ratios below 13?

Discussion in 'ETFs' started by crgarcia, Feb 26, 2008.

  1. iShares S&P Europe 350 Index (IEV): 11.44
    http://finance.yahoo.com/q?s=IEV

    Vanguard European Stock ETF (VGK): 13.22
    http://finance.yahoo.com/q?s=VGK

    iShares MSCI Germany Index (EWG): 13.79
    http://finance.yahoo.com/q?s=EWG

    iShares MSCI France Index (EWQ): 12.9
    http://finance.yahoo.com/q?s=EWQ

    iShares MSCI Italy Index (EWI): 12.85
    http://finance.yahoo.com/q?s=EWI

    iShares MSCI Spain Index (EWP): 13.86
    http://finance.yahoo.com/q?s=EWP

    iShares MSCI Austria Index (EWO): 12.65
    http://finance.yahoo.com/q?s=EWO

    iShares MSCI Belgium Index (EWK): 10.63
    http://finance.yahoo.com/q?s=EWK

    iShares MSCI Netherlands Index (EWN): 11.39
    http://finance.yahoo.com/q?s=EWN

    iShares MSCI Switzerland Index (EWL): 16.07
    http://finance.yahoo.com/q?s=EWL

    iShares MSCI Sweden Index (EWD): 12.21
    http://finance.yahoo.com/q?s=EWD
     
  2. Different accounting rules?
     
  3. ?.......more conservative accounting guidelines?