Top Portfolio Products: New Tools to Compare Funds and ETFs

New products and changes introduced over the last week include the  Investment Test Drive from FeeX, nd a fund evaluator tool from Capital One Investing and two leveraged funds from Direxion. In addition, Advyzon integrated Laser App Software into its client dashboard, Saxon Securities teamed with Envestnet and Envestnet|Tamarac updated its client portal.

Here are the latest developments of interest to advisors:

1) FeeX Launches Investment Test Drive

FeeX launched its Investment Test Drive, which compares a fund to similar but lower-cost funds, if they exist. The tool employs the FeeX Similarity Score, which identifies better potential investment choices and estimates the cost savings of switching to another fund.

To help users research alternatives, FeeX presents other similar investments with the lowest fees and best past returns.  FeeX ranks each investment on a scale of similarity from zero to 100%; funds with a similarity ranking of 85% and higher are displayed as similar funds for the user to consider.  

Users can initiate the search or sign up to have all their accounts automatically and objectively analyzed to find lower-fee investment options.

2) Capital One Investing Launches Fund Evaluator Tool

Capital One Investing introduced its Fund Evaluator tool, which allows users to access and review mutual fund and ETF data, compare funds and ETFs based on key criteria and identify comparable alternatives that align with an individual’s financial goals. Data include historical performance and expense ratios compared to a category averages plus Morningstar ratings.

The digital tool is free and available to all self-directed investors.