Portfolio analysis tools can help you stay on top of your investments, optimize your strategies, and maximize your returns. In this blog post, we’ve rounded up the 10 best portfolio analysis tools for 2023.
Investing in today’s fast-paced and ever-evolving market is no easy feat, making it crucial for investors to have the right tools at their disposal. These tools are perfect for tracking and managing your investment portfolios, from stocks to crypto assets.
Let’s get into it.
- Best Overall: Empower
- Best For Customizable Metrics and Screening: Stock Rover
- Best for Advanced Technical Analysis: Portfolio Visualizer
- Best for Money Management and Tax Analysis: Quicken Premier
Empower: Comprehensive Dashboard and Analysis
Empower is a free portfolio analysis tool that provides an extensive dashboard featuring engaging investment visualizations, fee analysis, and bespoke recommendations.
This platform allows you to track your investment portfolio, asses your portfolio risk, check your past performance, analyze net worth, cash flow, and even provides personalized investing recommendations and insights.
Key Features of Empower include:
- Track Investment Portfolio
- Assess Portfolio Risk
- Review Past Performance
- Analyze Net Worth
- Personalized Investing Recommendations and Insights
The platform offers a free plan and a Wealth Management plan. The Wealth Management requires an initial investment of $100,000 but gives you access to a financial advisor and managed investment portfolios, making it one of the best portfolio analysis options.
However, there are some limitations, like the lack of a model portfolio or investment recommendations, and auto-import is unavailable in the free plan.
Despite these drawbacks, Empower offers several features that make it an excellent free portfolio analyzer:
- Comprehensive dashboard
- Detailed investment visualizations
- Fee analysis
- Personalized recommendations
Empower caters to all, from beginners to experienced investors, ensuring everyone benefits.
Stock Rover: Customizable Metrics and Screening
Stock Rover is an investment portfolio management tool that offers customizable metrics and screening capabilities. As a viable alternative to Personal Capital, the platform enables customization of your portfolio analysis experience. Stock Rover offers one free plan and three paid plans, catering to various investor needs.
The Premium Plus plan is the best portfolio option in Stock Rover, boasting over 650 metrics, historical screening, stock ratings, investor warnings, and more. The Essentials plan also offers a comparison table with fully customizable views and over 260 metrics, allowing you to analyze various asset classes. Stock Rover’s rebalancing tools, alerts, and portfolio income projections showcase its money management capabilities.
Moreover, Stock Rover offers several useful tools for investment tracking and analysis:
- Future Portfolio Performance Simulation: Monte Carlo simulations to give you an idea of your investment accounts’ long-term growth potential under different scenarios (Love this functionality!)
- Future Income Tool: Projects your dividend income based on your current investments.
- Daily, Weekly, or Monthly reports: Provides customizable reports to track your investments.
- Customizable Watchlists and Alerts: This helps you stay updated on the stocks you are interested in.
These features make Stock Rover a comprehensive platform for investment management.
Read our complete: Stock Rover Review
Portfolio Visualizer: Advanced Technical Analysis
Portfolio Visualizer is an advanced technical analysis tool that specializes in Monte Carlo simulations, backtesting, and various asset allocation analysis features.
Backtesting is a methodology for assessing how an investment strategy might have worked if applied in the past. By using historical data, it’s possible to get a sense of the potential performance of the proposed strategy. By analyzing historical data, the tool helps experienced investors identify the most effective investing strategies.
- Factor analysis in Portfolio Visualizer: One of the portfolio analysis tools breaks down your portfolio, allowing you to see how much its performance is affected by different investing styles, such as value versus growth.
- Monte Carlo simulations: Give you a glimpse into how your portfolio might perform in challenging market conditions. With the help of portfolio analyzers like Portfolio Visualizer, you can gain valuable insights into your investment strategy.
Portfolio Visualizer, equipped with advanced features, serves as a crucial tool for investors aiming to enhance their strategies and reduce risks.
SigFig: Investment Management and Analysis
SigFig is a unique platform that combines investment management and analysis services. Offering portfolio allocation advice, dividend reinvestment, and tax reduction strategies, this tool is an optimal choice for investors aiming to enhance their portfolios. With a minimum investment of $2,000, SigFig offers a 0.25% investment management fee for higher-value accounts.
The platform provides free investment fee analysis and advice on how to improve your portfolio for better returns. However, to use SigFig’s free service, you need to link your accounts, as manually entering your holdings is not an option. SigFig’s free service is also available on mobile devices, making it easy for you to access your investment information on the go.
SigFig offers the following services to enhance your investment portfolio:
- Investment management and analysis
- Portfolio allocation advice
- Dividend reinvestment
- Tax reduction strategies
Quicken Premier: Money Management and Tax Tracking
Quicken Premier is a versatile tool that offers a comprehensive solution for personal finance management. This platform provides money management, investment analysis, customizable reports, and tax tracking features. Quicken’s investment tracker makes it easy to manage your investments. It takes only a few clicks to link all your brokerage accounts and get a comprehensive view of your portfolio. You can compare your portfolio’s allocations against target weights. This can be used for both short-term and long-term tax planning goals. By doing so, you can view gains and losses..
The platform also offers a basic scenario analyzer, which allows you to see how a potential trade would affect your portfolio’s allocations. Quicken Premier costs $71.88 per year, but its features make it worth the investment. During tax season, Quicken Premier simplifies filing by tracking your estimated capital gains and generating reports that help you maximize your tax savings.
Quicken Premier is a comprehensive personal finance management solution and an ideal choice for investors seeking a multifunctional tool. It combines:
- Money management
- Investment analysis
- Customizable reports
- Tax tracking features
Morningstar Portfolio Manager: In-Depth Fund Analysis
Morningstar Portfolio Manager is a great free tool. It offers investors detailed information like stock, ETF, and mutual fund data.
This platform is perfect for fund-focused investors, providing valuable insights that other analysis tools might miss. Morningstar’s X-Ray tool allows you to get an in-depth look into each mutual fund or ETF, uncovering hidden fees and determining whether you might be over-invested in a single stock due to the fund’s allocation.
The premium subscription’s X-Ray feature takes a deep dive into your portfolio to evaluate its true exposures, such as:
- Asset class
- Growth versus value
It also examines valuation metrics like P/E and P/B ratios. The catch with Morningstar’s platform is that you need to manually enter all your holdings, which can be time-consuming.
Even with this limitation, Morningstar Portfolio Manager, with its profound analysis of stocks, ETFs, and mutual funds, remains an ideal choice for fund-focused investors keen on detecting hidden fees and over-investment risks.
Read our complete: Morningstar Review or Try Free for 14 DaysTry Morningstar Today
Kubera: Net Worth and Crypto Tracking
Kubera is a modern portfolio tracker that offers:
- Tracking of traditional assets, crypto assets, and other possessions
- Comprehensive net worth tracking, including the value of your house, cars, or any web domains you own
- Easy connection to online brokerages, banks, and crypto-wallets
With just a few clicks, Kubera makes it easy to keep track of your investments.
Some unique features of Kubera include privacy, a heartbeat check to keep your beneficiaries informed, insurance tracking, and a file vault. However, Kubera does not provide much information on asset allocation, a retirement planner, or a fee analyzer.
Kubera, capable of tracking traditional assets, crypto assets, and other possessions, provides a comprehensive solution for investors in search of a modern portfolio tracker encompassing all aspects of their net worth.
Sharesight: Global Investment Tracking and Dividends
Sharesight is a global investment tracking tool that covers over 40 exchanges worldwide, catering to investors with diverse portfolios. This platform offers:
- Dividend-tracking capabilities
- Projections for expected dividend income based on announced payments
- The ability to keep track of stocks and ETFs from over 40 exchanges all over the world
- Support for more than 100 currencies
- The ability to track unlisted, alternative investments like fixed interest and investment properties
With Sharesight, you can:
- Monitor a running total of all your dividends, distributions, and interest payments over any time period
- Break down distributions by local and foreign income
- Get an idea of what your expected dividend income will be based on announced dividend payments
This platform makes it easy for investors to manage their investments and follow their performance.
With its global investment and dividend-tracking capabilities, Sharesight is an ideal choice for investors with varied portfolios, offering valuable insights into investment performance and projected dividend income.
Investment Account Manager: Desktop Portfolio Analysis
Investment Account Manager is a desktop-based portfolio analysis tool designed for Windows users. This software offers target asset allocation recommendations and management features for multiple portfolios, making it suitable for investors who manage multiple accounts. With a $99 annual membership, Investment Account Manager provides a range of portfolio management tools to help you optimize your investments, making it one of the best portfolio management software options available.
This platform, designed for dedicated investors managing multiple portfolios, provides an extensive set of tools to maintain control over your investments. Some key features of Investment Account Manager include:
- Target asset allocation recommendations
- Portfolio management features
- Optimization strategies
- Maximized returns
Investment Account Manager is a valuable resource for investors seeking to optimize their strategies and maximize their returns on financial accounts.
Ziggma: Stock Market Simulator and Backtesting
Ziggma offers a stock market simulator and backtesting feature for portfolio analysis, along with other investment tools. This platform is a valuable resource for investors looking to test and refine their strategies before committing capital.
Ziggma’s stock market simulator allows you to:
- Simulate and test out investment strategies using historical market data
- Analyze how your portfolio would have performed over time with the backtesting feature
- By tweaking your strategies accordingly, you can make smarter decisions and lower your chances of taking a hit in the market.
Ziggma, featuring a stock market simulator and backtesting, proves invaluable for investors aiming to test and refine their strategies, facilitating the most informed investment decisions.
In conclusion, the 10 best portfolio analysis tools for 2023 offer a range of features and capabilities to cater to different investor needs. From comprehensive dashboards and customizable metrics to advanced technical analysis and global investment tracking, each platform provides unique benefits that can help you optimize your investment strategies and maximize your returns.
Regardless of your investment goals or preferences, these top portfolio analysis tools can provide you with valuable insights and resources to make informed decisions and stay ahead in the dynamic world of investing. So, invest in the right tools, refine your strategies, and watch your investments grow.
Frequently Asked Questions
What is the best portfolio analysis tool?
The best portfolio analysis tool is Morningstar X-Ray, which provides asset allocation reports and recommendations on par with those of a financial advisor. It is the premier portfolio analysis tool for its comprehensive and detailed reports.
What are the tools of portfolio analysis?
Tools of portfolio analysis include the buy/hold analyzer, target asset allocation, buy/sell analyzer, performance view, holding period return, arithmetic mean, Sharpe ratio, Alpha, tracking error, information ratio, and Sortino ratio – all key components for effective investment management.
How can I analyze my portfolio?
Analyzing your portfolio is easy with online investment analysis tools like Morningstar, Empower, and StockRover. Just enter or upload your data and start getting insights into how your investments are performing.
Can these portfolio analysis tools track both traditional assets and crypto assets?
Yes, certain portfolio analysis tools can indeed track both traditional and crypto assets – Kubera being a prime example.
Are there free plans available for these portfolio analysis tools?
Yes, many portfolio analysis tools offer free plans with limited features or free trials with access to premium features.