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A Money Tool Must Have: Morningstar Instant X-Ray

March 01, 2012 | Comments: 0 | Views: 91

If you are looking for a money tool that makes managing your investments easier, then look no further than Morningstar's Instant X-Ray. The Morningstar Instant X-Ray allows you to quickly analyze your portfolio's strengths and weaknesses with very little effort.

To generate your Instant X-Ray report on your investments, you need to input your holdings by entering the ticker symbol for each investment along with the dollar value of each holding or the percentage value of the portfolio. This tool is capable of handling a variety of investments including stocks, mutual funds, and ETFs. I would recommend for individual fixed income security positions such as a bond you may want to use a fixed income ETF to represent the fixed income exposure in your portfolio since you cannot add the actual bond security. If you have other specific securities that do not have a ticker symbol, try to input a close proxy like an ETF to ensure you are accurately accounting for all your holdings.

Once you have input your holdings into this must have money tool, select "Show Instant X-Ray" to generate your report. The report displays the asset allocation, stock style diversification, stock sector, stock type, fees and expenses, world region exposure, stock statistics and the top holdings.

Therefore with very little effort, the Instant X-Ray has provided a thorough overview of your portfolio which allows you to quickly and easily identify your portfolio's strengths and weaknesses. For instance, as you analyze your Instant X-Ray report you can identify any under or overweighting you may have. I especially like the ability to combine stocks and mutual funds, because you may not realize you have multiple positions in the same security unless you run this report. For instance, you may own several shares of Procter & Gamble (PG) stock, but you were unaware that it is large holding in a mutual fund you also own. This visibility is imperative to determine your portfolio's actual diversification which is one of the primary reasons I deem this a money tool must have.

I also appreciate the ability to add multiple holdings across multiple accounts. For example, you can run an Instant X-Ray report on one IRA or you can run an Instant X-Ray on all of your IRAs and taxable accounts. Often investment tools limit you to only analyzing one account at a time, so having the ability to combine holdings across multiple accounts allows you to obtain a more accurate overall portfolio analysis.

I realize inputting all your holdings across multiple accounts could be a daunting task depending upon the complexity of your investments, but you will likely not need to update this report very frequently. If you are not an active trader of your accounts and positions are not changing with tremendous regularity, then you would likely only need to run the report once or twice a year.

If you are interested in accessing this free tool, perform a Google search for Morningstar Instant X-Ray. If after running the Morningstar Instant X-Ray on your accounts you would like a more in-depth analysis on your portfolio, you can become a Premium member. This would provide even greater help in managing your investments. At the very least I would recommend you explore the free Instant X-Ray service to enhance your money management efforts.

ABOUT: Kelli Bhattacharjee has over 8 years experience in the investment and financial services industry. Today she is proud to be her family's CFO and offer her expertise and experiences to her readers. She is the Founder of, which strives to provide valuable money and savings help to other family CFOs.

Source: EzineArticles
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