Portfolio X-Ray: See What You Actually Own

Upload your holdings and see how well diversified you are across all your funds.

See what you really own: the actual breakdown by country, sector and underlying stock across all your funds and ETFs.

What do you actually own?

A global index fund may well have most of its money in the US and the same big companies at the top as the next fund on your list. Buy two of those and you own many of the same stocks twice. It just doesn't say so anywhere. Your list of funds shows what you bought, not what you actually own.

The calculator unpacks each fund into the stocks it holds and weights them by how much money you have in that fund. Individual stocks are included directly, side by side with what your funds own of the same companies. The result is the combined breakdown by country, sector and individual stock for your whole portfolio, including the overlap you could not see before.

Want to see how it works before you dig out your own file? Click See an example below the upload field, and the calculator fills with a demo portfolio you can click around in.

How it works

Export your holdings as a CSV file from your broker and drag the file into the field above. If you are not sure where to find the file, take a look at the export guide for Saxo and Nordnet. The calculator recognizes the format by itself, from most other brokers too: all it needs is a column with the name or ISIN and a column with the value.

If you have several accounts, for example one at your bank and one with an online broker, you can drag in all the files at once or add them one at a time. They are combined into one portfolio, where the same security in two accounts becomes one position. The numbers are shown for all your holdings together, not account by account.

The calculator reads the name and value on each row and looks up the funds it knows. If it does not recognize a position, which is most often the case for individual stocks, it shows it separately instead of counting it the wrong way.

What does coverage mean?

Coverage tells you how much of your portfolio the calculator has been able to see through. All the percentages in the breakdown are calculated on exactly that part. If coverage is 80%, the last 20% is usually in individual stocks or funds we do not have data on yet. They do not skew the numbers; they are kept out and listed separately.

Where your US weight comes from

Turn on Sources under a region, a sector or a stock, and you can see which of your own funds the contribution comes from. That is where the overlap becomes visible. Maybe your US weight comes from four different funds at once, or the same company shows up again and again across your index funds.

It is more common than you might think. A broad global index fund today holds around two thirds of its money in US companies, and if you add a US fund or a tech fund on the side, your concentration quickly becomes bigger than you intended.

Which of your funds own the same thing?

Below the result, the calculator compares your five largest funds in pairs and shows how much of the money sits in the same stocks. The pair that is most alike is at the top. If two funds largely own the same thing, holding both adds almost no extra diversification. To see the shared stocks or pick other funds, open the comparison in ETF overlap.

Your numbers stay on your own device

The file is never uploaded. It is read in your browser, and the breakdown is calculated locally. To look up what your funds hold, we only send the fund name and any ISIN to the server. Your amounts and your total portfolio value never leave your browser.

We count how many times each fund is looked up, so we can see which funds we are missing data on. The count is attached to the fund, not to you. There is no login or account, and the calculation is not saved: close the tab and you start over next time. If you want to keep the picture, download the breakdown as a CSV file with the button at the top of the exposure card and compare with it later.

Keep going

If you find that two funds in practice hold the same companies, the next question is usually what they cost. You can work out the difference in annual fees between two funds that own roughly the same thing with the fund fee calculator.

Sources

The breakdown is based on the most recently published holdings, region and sector data of the funds and ETFs. The calculator does not give investment advice. It only shows how your current holdings are made up.

Frequently asked questions

How complete is the data?

The breakdown by country, sector and asset class is complete and adds up to 100% of what we have data on. The list of individual stocks is not always complete: many funds only publish their largest holdings, often the top 25. The rest of the fund is therefore grouped under Other in the holdings list. That does not affect the country and sector breakdown, which is based on the fund's full exposure.

Why is Other so large among the holdings?

A broad fund can own hundreds of stocks, but for most funds we only have the largest ones. The total of what we can name is therefore less than 100%, and the rest ends up under Other. The more broad funds you have, the larger that item gets.

Can I upload several accounts?

Yes. You can drag in several files at once or add them one at a time. Each new file is added on top of what is already loaded, and the same security in two accounts is merged into one position with the combined value.

Can I see each account separately?

No. The files are added up into one combined portfolio, because that is the whole point: your diversification across all your accounts. To see one account on its own, press Reset and upload only that file. Under Sources you can see which of your funds a given region, sector or stock comes from, but split by fund, not by account.

Are my individual stocks included?

Yes. A stock you own directly is included with its country and sector, and as a holding of its own, so overlap between stocks you own directly and the same stocks inside your funds becomes visible. If we do not know the stock yet, it is looked up automatically and is usually included shortly after.

Why are some holdings not included in the breakdown?

Securities we do not have data on yet cannot be included. They are shown separately under Not included in the breakdown, together with their value, and all percentages in the breakdown are calculated on the part we have data on.

How up to date are the numbers?

For exchange-traded funds (ETFs), the holdings are usually a few days old, because ETF providers publish them frequently. Traditional mutual funds usually update only once a month. Neither follows your own trades in real time.

What happens to my data?

The file is never uploaded. It is read in your browser, and the whole breakdown is calculated on your own device. Only the names of funds and stocks, plus any ISINs, are sent to the server to look up what they hold. Your amounts, your total portfolio value and the file itself never leave your browser. There is no login or account, and we do not create any user data.

Can I save my portfolio and come back to it later?

No. The calculation only lives in the tab you have open. Close the page and it is gone, so next time you upload the file again. You can download the result, though: the CSV button at the top of the exposure card downloads the breakdown by region, sector and holding as a file you can save and compare with later.

Can the calculator see through funds of funds?

Only one level. If one of your funds owns another fund, that fund counts as a position of its own, but its underlying stocks are not unpacked any further.