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Using Morningstar’s FREE Instant X-Ray Tool to Evaluate your Portfolio

by My Journey to Millions

Despite having my Series 6 and 63, I am not an investment expert, by any means, nor do I pretend to be.  Luckily, there are free tools out there for people like me to allow me (and maybe you lol) to analyze your portfolio and investments. I personally use Morningstar’s free X-ray tool. Here’s background on Morningstar and why I use the tool.

What is Morningstar?

From their website,

Morningstar is a premier online resource for financial news, information, and independent investment research to help people reach their financial goals, including a wide range of online portfolio management tools, financial data, unbiased stock and mutual fund analysis, video commentary, and much more for beginners and experienced investors.

What is Morningstar X-Ray Tool?

Again, lets take Morningstar’s definition of their own tool!

Pinpoint your portfolio’s strengths and weaknesses.

At a glance, understand the basic characteristics of your portfolio including its asset allocation, exposure to different investment styles, geographic regions, and sectors. Plus, easily analyze how well your holdings and expenses are adding up to meet your financial goals.

Save your portfolio and these results when you register for Morningstar.com—It’s Free & Easy.

How do we Use the X-Ray Tool?

First go to Portfolio and then click X-Ray Tool

Morningstar X-Ray Tool 1

Then Enter your Holdings (these are my actual holdings from my 401(k))

Morningstar X-Ray Tool My Holdings

Then click “Show Instant X-Ray”

Check out how much information you get!

Morningstar X-Ray Tool Results 1

Morningstar X-Ray Tool Results 2

What did I learn from Morningstar X-Ray Tool?

That I may be too heavily invested in cash for my age! What is a 28 year old doing with 6% in Cash.  I will be doing a post on re-balancing my 401(k).

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