Morningstar Instant X-Ray is gone. Here's what actually replaces it.
First the free version disappeared. Then the paid version. Then, one by one, the copies living inside TD Ameritrade, Schwab, the public-library edition and the UK site. If you used X-Ray to see what your funds really held, here is an honest map of what's left.
What happened, in order
Morningstar's Instant X-Ray was the tool DIY investors used for two decades: type in your funds and dollar amounts, get back your true asset allocation, style box, and — most loved of all — Stock Intersection: exactly which stocks you own across all your funds combined, and how much.
In 2023–24 the free version was folded into the $249/year Morningstar Investor subscription. In April 2025 Morningstar retired the tool entirely — paying members lost it too, with the company describing a shift "from portfolio monitoring toward research." Users then chased the licensed copies embedded at brokers: the TD Ameritrade version died with the Schwab merger, Schwab removed its own copy in 2024, the library edition and the UK site followed in 2025. On the Bogleheads forum, where "any alternatives to X-Ray?" threads have run continuously since 2022, one user summed up the mood: "They destroyed their most useful tool, for what?"
The jobs X-Ray did — and what does each one now
| What you used X-Ray for | Best current option | Catch |
|---|---|---|
| Stock intersection — "how much NVIDIA do I really own across all my funds?" | OverlapCheck portfolio lookthrough (free, no signup) | US ETFs today; more fund types being added |
| Fund overlap — "do these two ETFs duplicate each other?" | OverlapCheck pair pages, ETF issuer documents | — |
| Style box & allocation vs benchmark | Fidelity's Analysis view (account required); Vanguard Portfolio Watch (Vanguard funds only) | Broker tools only see accounts held there; several users report data-quality quirks |
| What-if on a sample portfolio before buying | OverlapCheck (type any tickers + amounts — nothing is linked or saved) | Broker embeds generally can't do this: they only analyze what you already hold |
| Whole-family view across 401(k)s, IRAs, taxable | Manual entry into any of the above; spreadsheets | Aggregators like Empower link accounts but are advisory lead-gen — expect sales calls |
Why we built the replacement for the intersection piece
The single most-missed X-Ray feature, judging by three years of forum threads, is the look-through: "across all my ETFs and funds, I might have 2% in Deere and 1% in Home Depot." That computation needs nothing proprietary — every US fund's full holdings are published in official issuer files and SEC filings. OverlapCheck reads those files daily and does the arithmetic: enter your funds and amounts on the homepage, get your combined top holdings and every duplicated position. No account linking, no signup wall, no "talk to an advisor" upsell. Our methodology page shows exactly how the numbers are computed so you can verify them yourself.
FAQ
Why was Morningstar Instant X-Ray discontinued?
Morningstar retired Portfolio Manager and Instant X-Ray for individual investors in April 2025, describing a strategic shift "from portfolio monitoring toward research." The free version had already been removed in 2023–24. The licensed versions embedded at brokers (TD Ameritrade, Schwab, the library edition, and the UK site) were shut down one by one through 2025.
Is there a free replacement for Instant X-Ray?
For the stock-intersection and overlap part of X-Ray, yes: OverlapCheck lets you enter multiple funds with dollar amounts and see your combined underlying stock exposure free, with no signup, computed from official issuer holdings files. For style-box analysis, Fidelity account holders can use the Analysis view (widely believed to be powered by Morningstar data).
What did Instant X-Ray actually do?
You entered ticker symbols and dollar amounts — no account linking — and it showed asset allocation vs a benchmark, the Morningstar style box, sector and world-region weights, fees, and Stock Intersection: which individual stocks you really own across all your funds and how much.