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The Best Tools for Tracking Investments
Key takeaways
- The best tool is the one you actually use — complexity is not a virtue if you cannot sustain it long-term.
- Portfolio Performance is a powerful open-source tool for investors who want in-depth analysis.
- A simple spreadsheet is sufficient for most passive investors doing a quarterly review.
- A broker dashboard is a good starting point, but you cannot see your whole portfolio there if you have multiple accounts.
- Automatic data import saves time, but every system requires occasional manual accuracy checks.
A good portfolio tracking tool gives you a clear picture of your allocation and performance without tying you to daily monitoring. The key criterion is not the number of features but whether you will actually use it at your quarterly review.
Broker Dashboard: The Simplest Start
Every broker offers an overview of positions directly in the app or on the website. For an investor with one account and a portfolio of two or three ETFs this is perfectly adequate. The drawback arises if you have multiple accounts at different brokers or want a total view including pension savings.
Spreadsheet: Flexibility Without Dependency
Google Sheets or Excel are ideal for many investors. Advantages: full control over data, no sharing with third parties, you can set up exactly what you want to track. Disadvantage: manual price entry or the need to learn automatic import via functions such as GOOGLEFINANCE. For a quarterly review, manual updates are acceptable.
Portfolio Performance: For More Demanding Users
Portfolio Performance is free, open-source desktop software. It can calculate returns using the internal rate of return (IRR) and time-weighted return (TWR) methods, display dividends, fees, and tax summaries. The learning curve is steeper, but the results are worth it — especially if you want to compare your portfolio's actual performance against a benchmark.
Mobile Apps
There are numerous mobile apps for portfolio tracking. When choosing, verify the data-access terms, how the app connects to your broker, and whether the app will still be around in three years. Less is sometimes more: an app that shows value and allocation serves its purpose better than a feature-laden platform full of signals and alerts. More on automation and tools can be found in the article on automated investing.
- Broker dashboard: 1–2 accounts, simple portfolio
- Spreadsheet: multiple accounts, manual control, full flexibility
- Portfolio Performance: in-depth analysis, IRR, dividends, taxes
- Mobile app: quick overview, but verify data-access terms
FAQ
Which portfolio tracking tool do you recommend for a beginner?
For a beginner, a broker dashboard is sufficient if you have one account. If you want visibility across multiple accounts, start with a simple spreadsheet — ticker, quantity, and current price is enough.
What is Portfolio Performance and who is it for?
Portfolio Performance is free, open-source desktop software. It suits investors who want in-depth performance analysis using IRR or TWR, tracking of dividends and fees. It requires a larger time investment to set up.
Is a spreadsheet enough for managing an investment portfolio?
For a passive investor doing quarterly reviews, absolutely. The key is consistency — a simple system you actually use is better than a complex one you open once a year.