Free Morningstar X-Ray Replacement for European Investors
If you used Morningstar Instant X-Ray to check what you actually own inside your ETFs and funds, you already know it is gone. Morningstar moved the feature behind their premium paywall, leaving millions of European investors without a way to see through their fund holdings.
We built a free replacement: Portfolio X-Ray.
The Problem
You buy an ETF like iShares MSCI World (IE00B4L5Y983). You know it tracks global equities. But do you know that Apple alone is 5% of your portfolio? That you have 70% US exposure? That your diversified three-fund portfolio actually holds the same top 10 stocks three times over?
Morningstar X-Ray used to answer these questions for free. Now it costs $34.95/month.
How Portfolio X-Ray Works
Enter your fund ISINs and amounts. No login required. You get six views instantly:
- Asset Allocation - Before and after look-through. Your equity ETF might hold 5% cash.
- Geography - Economic exposure by country, not fund domicile. An Ireland-domiciled ETF is not Irish exposure.
- Sectors - GICS sector breakdown from actual factsheet data.
- Overlap - Stocks held in 2+ of your funds. The hidden concentration risk nobody checks.
- Fees - Weighted TER with passive benchmark comparison and annual cost in your currency.
- Top Holdings - The 30 largest positions you actually own after look-through.
What Look-Through Means
When you own a fund, you do not own one thing. You own hundreds of underlying stocks and bonds. Look-through analysis opens up each fund and shows you the actual securities inside.
We fetch real holdings data from 13 sources including iShares, JustETF, extraETF, Fundinfo, SwissFundData, and more. The data is cached for 24 hours so popular funds load in under a second.
Built for European Investors
Most portfolio tools are US-centric. They work great with US ticker symbols but choke on ISINs. Our tool is ISIN-native:
- Enter ISINs (IE, LU, CH, DE prefixes all work)
- European fund sources (Swiss, German, French data providers)
- TER comparison against European passive benchmarks
- Currency-aware fee calculations (CHF, EUR, GBP)
Comparison
| Feature | Morningstar X-Ray | NWCA Portfolio X-Ray |
|---|---|---|
| Price | $34.95/month | Free |
| Login required | Yes | No (on-screen results) |
| ISIN support | Yes | Yes |
| Fund overlap detection | No | Yes |
| Fee comparison vs benchmark | Limited | Yes (passive benchmark) |
| European fund sources | Morningstar only | 13 sources |
| PDF report | Yes (paid) | Yes (email-gated) |
Enter your ISINs and see what you actually own.
Who We Are
New Way Capital Advisory builds transparent financial analytics tools. Our platform includes:
- Portfolio X-Ray - Fund look-through analysis (this tool)
- Portfolio Consolidation - Merge multi-bank portfolios into one view
- Property Comps - Comparable sales data across France, NYC, Singapore, Dubai, and 7 more markets
- MomentumFlow AI - Stock scanner with transparent risk signals
- Portfolio Analyser - Institutional portfolio analysis
All tools are free to use. No black boxes. Every signal is explainable, every calculation auditable.