There is a recency bias here. The Sp500 has outperformed the Stoxx600 every year for the last 5 years, except 2022.
Cumulative returns are around 100% for the american index, vs 60% for the EU one.
Cumulative returns are around 100% for the american index, vs 60% for the EU one.
The Shiller PE ratio is insanely high. At least the European market isn't completely overinvested in just 7 companies who are spending a lot of their money on the exact same thing, so it has that going for it.