Morningstar retired its free Instant X-Ray tool in April 2025. European passive investors lost the only tool that worked with ISINs and showed multi-fund look-through. I built a free replacement: https://nwc-advisory.com/xray Enter fund ISINs + amounts, get six analysis views: allocation before/after look-through, geography, sectors, stock overlap, fee analysis, and top holdings. No login for on-screen results. The whole pipeline runs on public data sources - 16 of them. The interesting engineering: a fetcher chain that goes from iShares CSV downloads to PDF parsing, bond classification via free regulatory APIs (GLEIF + ESMA FIRDS), and a proxy-routing system for synthetic ETFs whose holdings are legally unavailable. The gap Morningstar left In April 2025, Morningstar retired Instant X-Ray - the free tool that let you paste in any combination of fund ISINs and see the actual stocks underneath.…