The best Morningstar X-Ray alternative depends on what you actually look at in X-Ray. If you hold individual stocks and mainly want sector exposure, risk and dividend income, a portfolio tracker such as ScreenerHero's covers that. If you hold funds and use X-Ray to see look-through holdings, style box and fees, no free tool replaces it fully.
Last updated: October 2026.
What Morningstar Portfolio X-Ray does
Portfolio X-Ray is part of Morningstar's paid Investor product. You enter your holdings and it breaks the portfolio down into:
- Asset allocation: stocks, bonds, cash and other.
- Style box: how your equity is spread across value, blend and growth, and across large, mid and small caps.
- Sector and regional exposure: where your money is, including inside funds.
- Fees and expenses: what your funds cost you each year.
- Stock intersection (overlap): which individual companies you hold through several funds at once.
Its real strength is look-through analysis. Three funds that look different can all own the same twenty stocks, and X-Ray shows that.
Why people look for an alternative
- Price. X-Ray needs a paid plan. Morningstar's monthly price was about $35 at our last check in October 2026; confirm on their site.
- Fund-centric design. If your portfolio is 15 individual stocks, most of the fund analysis does nothing for you.
- US-first data. Tickers and funds from smaller European venues can be missing or lightly covered.
What a stock-focused alternative can and cannot replace
We checked ScreenerHero's portfolio feature against the X-Ray list above.
| X-Ray feature | ScreenerHero portfolio |
|---|---|
| Sector allocation | Yes |
| Total value, cost basis, day and total P&L | Yes |
| Multiple portfolios | Yes |
| Risk metrics: max drawdown, Sharpe ratio, weighted beta | Yes |
| Projected annual dividend income | Yes |
| Display in EUR or USD | Yes |
| Style box | No |
| Fund look-through and overlap | No |
| Fee and expense analysis | No |
| Asset allocation across bonds and cash | No |
So the honest answer: for a portfolio of individual stocks, you can replace the parts of X-Ray you would use. For a portfolio of funds and ETFs, you cannot.