Sharesight Review – A Look At This Portfolio Tracking Platform

About Sharesight

Sharesight is a professional-quality portfolio tracking platform. It offers helpful features like dividend forecasting and diversification analysis. It also enables you to track cash and property in addition to multiple brokerage accounts. However, Sharesight is expensive, especially when you consider that there are so many free or cheap portfolio management tools on the market.

So, is Sharesight the right platform for monitoring your investment portfolio? Keep reading our Sharesight review to find out.

Sharesight Pricing Options

Sharesight is surprisingly expensive for a portfolio tracking tool. There’s a free plan, but it only allows you to track up to 10 holdings. A Starter plan enables you to track 30 holdings for $15 per month or $135 per year, which seems rather steep. At that price, you also only get limited reporting features that don’t include dividend or contribution analysis reports.

The Investor plan, for $24 per month or $216 per year, is what most Sharesight users will need. It lets you track an unlimited number of holdings across 4 portfolios. This plan also unlocks all the features of Sharesight except for contribution analysis. For that, you’ll need an Expert plan for $31 per month or $279 per year.

You can try out any of Sharesight’s paid plans for 7 days before committing.

Sharesight Features

Transaction Tracking

Sharesight is similar to other portfolio tracker tools in how it handles transactions. You can link a variety of compatible brokers and the service will import your full trade history from each. Alternatively, you can upload a CSV file of trades or enter trades into the platform manually.

One unique feature that Sharesight offers is email tracking. If your broker is incompatible with the platform but sends you trade confirmation emails, Sharesight can use those emails to automatically import trades. Of course, this does require trusting Sharesight with access to your email.

Sharesight can track multiple brokerage accounts, cash accounts, ETFs, mutual funds, cryptocurrencies, forex, precious metals, and property like real estate.

Basic Reports

There are several basic reports available in Sharesight. Free and Starter plan users get access to reports that show overall performance and historical transactions. The only notable feature here is that you can sort your performance report by market sector and exclude open positions. Otherwise, these reports are essentially identical to what the majority of brokers offer for customers at no cost.

You also get tax reports, which you can send to your accountant to streamline capital gains tax reporting. However, you could also send your account the 1099-B forms that your brokerages are required to provide for customers.

Advanced Reports

Advanced reporting features in Sharesight enable you to analyze your dividend income, portfolio diversity, and contributions. Contribution analysis is only available with the Expert plan.

The dividend income report is fairly simple. It just lists all dividends expected to be paid out in the future based on your current portfolio holdings. Notably, it doesn’t take into account companies’ historical dividend growth when making projections. 

The portfolio diversity report is also fairly straightforward. Essentially, you get a pie chart and a table showing how your portfolio is divided among asset classes or market sectors. You can’t slice the data over multiple levels at the same time – for example, by asset class and market sector for stocks. Sharesight also doesn’t offer correlation analysis, which is available in some other portfolio management platforms. Overall, this report feels pretty standard.

The contribution analysis report is strangely similar to the basic performance report. You can see how your investments across asset classes or market sectors have performed over time. The main difference is that the contribution analysis displays how a particular class of investments has impacted your portfolio overall, as opposed to showing the performance for a single position. So, it can be useful if you have a mix of ETF and stock investments, or assets like cryptocurrency or property. Still, this data could easily be backed out using Excel and it hardly seems worth paying extra for.

Customization And Layout

Sharesight allows you to export data from any reports to Excel or to a PDF. In addition, you can easily share these exports by email right from the platform.

Beyond that, though, there isn’t much you can do to customize Sharesight. You don’t have any control over plot axes or types, although the default settings are good enough in most cases. Having the option to include or exclude open positions for most reports is a helpful analysis feature.

Sharesight used to have a mobile app, but it was retired last year. You can still access the Sharesight portfolio tracker from a smartphone browser.

Compatible Brokerages

Sharesight is compatible with more than 200 US and international brokers. Most popular brokers, like Charles Schwab, Robinhood, E*TRADE, and TD Ameritrade, are supported.

Sharesight Platform Differentiators

Sharesight is a well-built portfolio analysis and tracking platform. However, there are a lot of these tools on the market, like JStock and Stock Tracker App. In addition, almost every broker offers their own portfolio tracker tool.

Sharesight simply doesn’t do all that much to stand out. The ability to exclude open positions from reports is a slight, but significant difference from the reporting tools that many brokers offer. At the same time, though, the advanced reports for dividend income and portfolio diversification are hardly unique and aren’t particularly actionable.

All in all, Sharesight would be a good platform if it didn’t cost much more than comparable tools. But it’s hard to justify the premium pricing based on the available features. 

What Type Of Trader Is Sharesight Best For?

Sharesight can work for both day traders and long-term investors. It works with a wide variety of brokers, including many that specialize in fast execution for day trading. The ability to track an unlimited number of holdings is helpful, although many investors may want to separate holdings into more than just one or four portfolios. At the end of the day, Sharesight will be most useful for investors whose brokers don’t offer integrated portfolio management tools and need a platform that can track their entire portfolio to stand in. 

Sharesight FAQs

What assets can I track with Sharesight?

Sharesight enables you to track stocks from 40+ global exchanges, ETFs, mutual funds, currencies, bonds, precious metals, and cash accounts. You can also track property as a custom investment entry.

Is Sharesight secure?

Sharesight uses encrypted connections to pull data from your brokerage accounts. It does not use Plaid, but instead has its own integrations with brokers. You can set up two-factor authentication to further secure your Sharesight account.

Is Sharesight tax deductible?

Sharesight is tax deductible for many professional traders and investors. If you’re unsure whether you can deduct your Sharesight subscription, it’s a good idea to ask a tax expert for advice.

Pros

• Compatible with 200+ brokers
• Email tracking to import trades
• Exclude open positions from reports
• Supports data export to Excel or PDF
• Works for multiple asset classes

Cons

• Expensive for tools that are free elsewhere
• Leaves out advanced analyses like correlation