Where to for VUK

Yesterday I sold some BEN and purchased VUK with the proceeds, thinking there is probably more upside in VUK from current share prices.

It seems that VUK is unloved, and largely undiscussed in recent times.
It sits on an undemanding PE of under 4, which is quite remarkable for a healthy Bank, with growth and adequate Capital Reserves.

The run up to $4 had me thinking that the market was becoming more rational, but the fairly rapid fall back to ~$3 makes me wonder what I am missing.

Any contributions welcome.