About Portfolio X-Ray

Portfolio X-Ray is an advanced analysis tool that helps you examine the details of your portfolio so you can understand where your money is invested. It breaks down your holdings by asset type, sector, and geographic region, showing how diversified (or concentrated) your investments are.

For example, you might believe your mutual funds give you global exposure, but Portfolio X-Ray could reveal that most of your holdings are in U.S. large-cap stocks. With that insight, you can decide whether to adjust your portfolio to match your investment goals.

Portfolio X-Ray is powered by Morningstar, a provider of independent investment research.

Before you start

Portfolio X-Ray requires an internet connection. When you run it, your holdings and share counts are sent to Morningstar in real time. No personally identifiable information is shared, and Morningstar does not store the data.

Before using Portfolio X-Ray, download the latest quotes so the analysis includes all your current securities.

The Morningstar service is limited to 250 securities.

Use Portfolio X-Ray

The first time you use Portfolio X-Ray, you’ll complete a short setup.

1. Click the Investing tab, and then select the Portfolio X-Ray tab.

2. Click Getting Started.

3. Accept the terms and conditions, and then click Continue.

4. On the Morningstar page, select the portfolio you want to analyze from the Accounts drop-down list.

5. Choose the view and benchmark as needed.

The Morningstar X-Ray page includes the X-Ray Interpreter tab and the Stock Intersection tab.

Use the AI summary

Portfolio X-Ray can include AI-written summaries that describe what the charts and tables indicate. When the summary is on, you’ll see one or more paragraphs labeled AI Analysis: below sections like Asset Allocation and World Regions.

Turn the AI summary on or off

Use the toggle in the upper-right corner of the X-Ray page.

• To turn it on, turn on Generate AI Analysis.

• To turn it off, turn off Generate AI Analysis.

If you change accounts, holdings, or benchmarks, click Refresh X-Ray to update the analysis and the AI summary (if it’s turned on).

What the AI summary covers

The AI summary is a narrative description of the Portfolio X-Ray results shown on the page. It does not change your portfolio data, the Morningstar calculations, or the benchmark values.

Understand the X-Ray information

The X-Ray Interpreter tab displays a breakdown of your portfolio by asset class, region, and sector.

Asset allocation

Asset allocation shows the percentage of your holdings in major categories such as Cash, US Stocks, Non-US Stocks, Bonds, and Other. The pie chart provides a visual summary, and the table lists percentages for your portfolio and the selected benchmark.

World regions

World regions highlights the geographic distribution of your holdings on a map and in a table. The table breaks down percentages for regions such as Americas, Greater Europe, and Greater Asia (and their subregions), compared to the benchmark.

Stock sectors

Stock sectors displays your holdings by sector classification (such as Communication Services and Energy), with corresponding percentages for your portfolio and the benchmark.

You can select Show Short Positions to display short holdings in the asset allocation table.

Availability

This feature is not available in Canada.