In the event you personal a few index funds and some shares, you most likely personal extra of some firms than you suppose. Morningstar X-Ray is the instrument I take advantage of to examine. It appears inside each fund you maintain and provides all of it up, so that you see your actual mixture of shares, bonds, sectors and areas.
In the event you’re new to why that blend issues, the SEC’s investor web site has a brief explainer on asset allocation and diversification. X-Ray is the way you examine yours.
What You Get
- Unbiased analysis on 1,600+ mutual funds & ETFs, with no conflicts of curiosity
- Portfolio X-Ray reveals hidden overlaps, sector focus & price drag
- 120+ international analysts overlaying ~1,000 shares with truthful worth estimates
- Superior inventory, fund & ESG screeners with 200+ knowledge factors
- Entry by way of internet, iOS & Android, with watchlists and portfolios syncing throughout units
Strive Morningstar X-Ray Free for 7 Days With Morningstar Investor
What’s Morningstar X-Ray?
X-Ray is a portfolio evaluation instrument inside Morningstar Investor. Morningstar says it’s most helpful when your portfolio holds a number of funds or ETFs, or a mixture of shares and funds. That’s the place the overlap hides: two funds can personal the identical firm, and a fund’s label doesn’t inform you what it really holds.
You decide a view, select a benchmark, and X-Ray fills in charts and tables evaluating your portfolio to it. Each view has a Holdings Breakdown that reveals which of your holdings is driving every quantity.
What Morningstar X-Ray reveals you
| X-Ray space | What it tells you |
|---|---|
| Asset class | How your cash splits throughout U.S. shares, non-U.S. shares, bonds and money |
| Inventory sector | How concentrated you’re throughout 12 sectors |
| World areas | Your publicity to North America, Europe, Asia and the remainder of the world |
| Charges and bills | What your holdings value, together with the weighted common expense ratio |
| Inventory stats | Ratios like value/e book and value/earnings for the entire portfolio |
| Fairness type field | The way you’re unfold throughout massive, mid and small, worth, core and development |
| Fastened-income type field | Curiosity-rate sensitivity and credit score high quality of your bonds |
How I ran X-Ray on a check portfolio
To see what X-Ray catches, I arrange a easy check portfolio: 100 shares of Nokia (NOK) and 20 shares of Vanguard’s Complete Inventory Market ETF (VTI). Two holdings. You’d suppose there’s nothing to search out.
Right here’s what X-Ray confirmed once I ran it in July 2026:
- 87.10% U.S. shares towards 52.05% for the benchmark I picked
- 0% bonds towards 35.68% for the benchmark
- 43.65% in expertise towards 34.17% for the benchmark
- 0.03% common web expense ratio, so charges weren’t the issue
That’s a whole lot of tech for a portfolio with one broad index fund in it. The benchmark comparability is what makes it leap out.
Scrolling down, World Areas put 12.07% of the portfolio in developed Europe towards 4.69% for the benchmark. That’s nearly all Nokia. The type field confirmed 74% in massive firms (22% worth, 23% core, 29% development).
Inventory Intersection: the place the overlap reveals up
X-Ray tells you you’re heavy in tech. Inventory Intersection tells you which ones firms put you there. It lists the highest 50 shares in your portfolio and reveals which of your holdings each comes by way of.
In my check portfolio, NVIDIA got here out at 5.58%, Apple at 5.16% and Microsoft at 3.36%, all by way of VTI. I by no means purchased any of them straight. Morningstar’s personal assist web page offers the same instance: Microsoft at 3.98% of a portfolio by way of two funds, VFINX and QQQ. In the event you personal a couple of funds, that’s the overlap to search for.
Run X-Ray on Your Personal Portfolio: Begin a 7-Day Free Trial
The right way to use Morningstar X-Ray, step-by-step
- Arrange a portfolio. Hyperlink your brokerage accounts, or add holdings by hand. You possibly can have as much as 25 portfolios.
- Open X-Ray. In your portfolio, decide an X-Ray view from the drop-down: Asset Class, World Areas, Inventory Type and so forth.
- Select a benchmark. Morningstar’s choices run from aggressive (extra shares) to conservative (extra bonds). Decide the one closest to what you’re aiming for.
- Learn the charts. Search for the most important gaps between your column and the benchmark’s.
- Click on View Breakdown. It reveals which holding is inflicting every hole.
- Examine Inventory Intersection. If one firm reveals up by way of a number of funds, that’s your focus.
The Efficiency tab sits subsequent to X-Ray. It charts your portfolio’s return over time, and you’ll add an index to match towards.
Is Morningstar X-Ray free?
No. X-Ray is a part of Morningstar Investor, and Morningstar’s assist heart states there’s no free tier for Investor. In the event you cancel, you lose the portfolio instruments too.
In the event you keep in mind a free model, that was the previous setup. Morningstar Premium was transformed to Morningstar Investor in June 2022 and may’t be purchased anymore. The legacy Portfolio Supervisor remains to be there just for former Premium members who hold an Investor subscription.
Morningstar Investor pricing (as of October 26, 2026)
- 7-day free trial, one per individual
- $249 a 12 months, or $34.95 a month
- $199 for the primary 12 months of a yearly plan by way of a companion hyperlink like ours ($50 off)
- The $50 low cost is for the primary 12 months solely and may’t be mixed with different provides
Begin your 7-day free trial and run X-Ray by yourself holdings.
Who Morningstar X-Ray is for
Execs
- Appears inside each fund and ETF you personal and provides it up
- Compares your combine to a benchmark you select
- View Breakdown reveals which holding causes every hole
- Inventory Intersection names the businesses you personal a number of occasions over
- Works with linked accounts or holdings you enter by hand
Cons
- No free model: it wants a Morningstar Investor subscription
- Most helpful with a number of funds; a single-stock portfolio received’t present a lot
- The benchmark you decide adjustments each comparability, so select it with care
In the event you personal a couple of fund, X-Ray will present you one thing you didn’t find out about your individual portfolio. Strive it free for 7 days and run it on what you really maintain.
Get $50 Off Your First Yr of Morningstar Investor: $199 As an alternative of $249
No. X-Ray is a part of Morningstar Investor, which has no free tier. There’s a 7-day free trial, then it’s $249 a 12 months or $34.95 a month.
Your portfolio’s asset class combine, 12 inventory sectors, world areas, charges and bills, inventory stats and elegance packing containers, every in comparison with a benchmark you select.
A desk of the highest 50 shares in your portfolio that reveals which of your funds each comes by way of, so you may spot overlap and focus.
Premium was transformed to Morningstar Investor in June 2022. Legacy Portfolio Supervisor is barely accessible to former Premium members who’re present Investor subscribers.
