The core difference in one sentence
Sharesight is a reporting tool. Guardfolio is a risk-monitoring tool. Sharesight is optimised for the end of the tax year — dividends, capital gains, franking credits, performance vs benchmark. Guardfolio is optimised for right now — concentration creep, hidden ETF overlap, allocation drift, drawdown and volatility limits, with alerts the moment something crosses a line.
Quick verdict
If your main pain point is tax, dividend and performance reporting, Sharesight is the stronger tool — especially in Australia, New Zealand and the UK. If your main pain point is "I don't know what's actually risky in my portfolio right now", that's exactly the gap Guardfolio was built to close. The two tools barely overlap — most serious DIY investors end up running both.
At a glance
- Tax & dividend reporting depth
- Country-specific tax reports (AU, NZ, UK)
- Corporate actions & performance history
- Reporting-first workflow
- Live risk monitoring across all accounts
- Concentration, drift & ETF overlap alerts
- Drawdown & volatility limits with alerts
- Read-only sync across 30+ brokers
Six risk dimensions Guardfolio watches that Sharesight does not
Sharesight shows you what your portfolio has done. These are the six things that can quietly go wrong between one year-end report and the next — and that Guardfolio watches continuously, on your live portfolio, with alerts.
1. Concentration
Single-holding exposure across all accounts, as a percentage of total net worth.
2. Allocation drift
How far your actual allocation has moved from your target mix.
3. ETF overlap
Look-through detection of the same underlying holdings across different ETFs.
4. Drawdown
Live peak-to-trough drawdown per holding and at portfolio level.
5. Volatility
Rolling realised volatility per holding and at portfolio level, with band alerts.
6. Sector exposure
Sector weights with drift and caps — catches tech or energy creep before it's obvious.
None of these are hypothetical. They're the issues that show up in year-end Sharesight reports as "wait — how did that happen?" — the moment when you realise the portfolio drifted from the plan months earlier and nothing flagged it at the time.
See all six metrics on your own portfolio — in your first session
Connect your accounts and Guardfolio surfaces concentration, hidden ETF overlap, allocation drift, drawdown, volatility, and sector exposure — live, across every brokerage. The first 7 days are free.
Start Free Trial → 7-day free trial · Cancel anytime · Read-only broker accessThe reporting-vs-monitoring gap
Here's the failure mode Sharesight users run into most often: the year-end report tells a clear story — you were overweight tech, your "diversified" ETF basket had 40% overlap, drift pushed you from 70/30 to 82/18 — and all of it was already true six months earlier. A reporting tool shows you the damage; it doesn't stop it.
Guardfolio fills that gap. It runs continuously on the same brokerage connections you're already trusting, watches the six risk dimensions on every refresh, and sends an email or Telegram alert the moment any of them cross a threshold you set. When the next year-end report arrives, the story is boring — which is exactly what you want.
Feature comparison
| Feature | Guardfolio | Sharesight |
|---|---|---|
| Primary focus | Live portfolio risk monitoring | Tax & dividend reporting |
| Broker coverage | ||
| Tax & CGT reporting | ||
| Dividend tracking & history | ||
| Concentration alerts | ||
| Allocation drift monitoring | ||
| ETF overlap (look-through) | ||
| Drawdown alerts | ||
| Volatility monitoring | ||
| Sector exposure caps | ||
| Performance vs benchmark | ||
| Corporate actions handling | ||
| Real-time alerts (email / Telegram) | ||
| Free risk check (no signup) | ||
| Accountant-ready exports |
Best for
Best for Guardfolio
- Investors who want concentration, drift & overlap alerts on live accounts
- Multi-brokerage investors who need a unified live risk view
- ETF holders who want look-through detection of hidden mega-cap concentration
- Self-directed investors who want drawdown and volatility alerts on real money
- Long-term investors who review quarterly but want automation in between
Best for Sharesight
- Anyone whose main need is tax & dividend reporting at year-end
- Australian, New Zealand and UK investors with country-specific tax workflows
- Dividend investors who want franking credits, DRPs and full payout history
- Investors working closely with an accountant who needs clean exports
- Performance-tracking purists who want multi-period annualised returns
Can you use both?
Yes — and this is the setup most serious DIY investors settle into. Sharesight handles the year-end reporting workflow: tax, dividends, franking credits, performance vs benchmark. Guardfolio sits on top of the same broker connections and handles the continuous part: watching concentration, overlap, drift, drawdown and volatility, and pinging you when any of them cross your limits. The two tools almost don't overlap — they cover different halves of the same job.
See exactly where your live portfolio is leaking risk
Sharesight's year-end report will show it eventually. Guardfolio shows it right now — hidden ETF overlap, concentration creep, drift, drawdown and volatility on your real, live portfolio. Try it free for 7 days.
Start Free Trial → 7-day free trial · Cancel anytime · Read-only broker accessFrequently asked questions
What is Sharesight best for?
Sharesight is best for tax and dividend reporting. It excels at performance tracking, dividend histories, corporate actions, and country-specific tax reports — especially for Australian, New Zealand, and UK investors. It is a reporting-first platform, not a risk-monitoring tool.
What does Guardfolio do that Sharesight does not?
Guardfolio continuously monitors six portfolio risk dimensions: concentration, allocation drift, ETF overlap, drawdown, volatility, and sector exposure. It sends live alerts via email and Telegram when a threshold is crossed. Sharesight focuses on historical performance and tax reporting; it does not provide proactive risk alerts or overlap detection.
Can I use Sharesight and Guardfolio together?
Yes, and many investors do. Sharesight handles tax and performance reporting at year-end. Guardfolio runs as a continuous risk layer on top — watching overlap, concentration, and drift so problems never reach the year-end report.
Is Guardfolio a Sharesight alternative?
Only partially. Guardfolio is not a replacement for Sharesight's tax and dividend reporting depth. It replaces the risk-monitoring gap — the part Sharesight does not cover. If reporting is your main need, keep Sharesight. If risk alerts are, pick Guardfolio. Most investors benefit from using both.
Does Guardfolio support dividend and tax reporting?
Guardfolio shows dividends and basic performance across accounts, but it is not a tax-reporting tool. For tax-specific workflows — capital gains, franking credits, CGT reports, accountant exports — Sharesight is stronger by design.
How many brokers does Guardfolio support?
Guardfolio supports read-only sync across 30+ exchanges and brokers, including US, European, and crypto platforms. Accounts connect in minutes and all data is fetched through read-only API keys — Guardfolio never has trading permission.
Can I try Guardfolio before subscribing?
Yes. Every paid feature is available free for 7 days — you can see concentration, ETF overlap, drift, drawdown, and volatility on your real portfolio during the trial. Cancel anytime. You can also run a no-signup snapshot first at /risk.
Sharesight reports the year. Guardfolio watches the day.
Reporting tells you what happened. Guardfolio shows what's happening.
- Live concentration & ETF overlap alerts
- Drift, drawdown & volatility monitoring
- Read-only sync across 30+ brokers