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Investment Analytics · head to head

Clarity AI vs Morningstar Direct

Clarity AI logo

Clarity AI

Investment Analytics

AI-driven sustainability, climate and SFDR data for investors and banks

From
On request
Free plan
No
Full reviewWebsite
Morningstar Direct logo

Morningstar Direct

Investment Analytics

Morningstar's investment analysis platform for fund research, flows and portfolio analytics

From
On request
Free plan
No
Full reviewWebsite

The short version

  • Each has a real cost: Clarity AI no prices are published for any module; the site routes every enquiry to Talk to an Expert, checked November 2026.; Morningstar Direct no published pricing on Morningstar's product pages, checked November 2026.
  • They diverge on capability: Clarity AI covers Customisable ESG ratings, Morningstar Direct covers Investment database and screening.
  • Prices and features above were last checked on 12 November 2026.

Where they differ

Only the attributes on which Clarity AI and Morningstar Direct actually diverge.

Attributes where Clarity AI and Morningstar Direct differ
AttributeClarity AIMorningstar Direct
PlatformsWeb, APIWindows, Web, Excel

Identical on both: starting price (On request), pricing model (quote), free tier (No), user rating (Not yet rated), category (Investment Analytics).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Clarity AI

  • Customisable ESG ratings
  • SFDR and EU regulatory reporting
  • Asset-level physical climate risk
  • Climate transition and carbon footprint
  • Source traceability
  • Fund and private company coverage
  • Retail banking carbon footprint
  • API, datafeeds and MCP connectors

Only in Morningstar Direct

  • Investment database and screening
  • Asset Flows
  • Portfolio analysis and attribution
  • Asset Allocation
  • Performance Reporting
  • Presentation Studio
  • Excel Add-In
  • Direct AI agents

What people use each for

The jobs each tool is most often brought in to do.

Clarity AI

  • Producing SFDR PAI statements and Article 8 and 9 periodic disclosuresnot Morningstar Direct
  • Testing whether holdings qualify as sustainable investments under a firm's own SFDR methodologynot Morningstar Direct
  • Assessing physical climate risk across a portfolio or loan book at asset levelnot Morningstar Direct
  • Matching client sustainability preferences to products under MiFID IInot Morningstar Direct
  • Checking fund names against ESMA naming guidelinesnot Morningstar Direct
  • Showing retail banking customers the carbon footprint of their card spendingnot Morningstar Direct

Morningstar Direct

  • Fund research and manager due diligence using Morningstar ratings and categoriesnot Clarity AI
  • Tracking fund flows and market share for product development and distributionnot Clarity AI
  • Attribution and performance reporting on fund line-ups and model portfoliosnot Clarity AI
  • Producing branded fund factsheets and client presentationsnot Clarity AI
  • Capital market assumptions and strategic asset allocation worknot Clarity AI

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Clarity AI

  • No prices are published for any module; the site routes every enquiry to Talk to an Expert, checked November 2026.
  • The Glass Lewis merger closed in September 2026 with branding and product integration still to be settled, so buyers are signing up to a roadmap that will change; the company says existing products stay supported during a phased integration.
  • Coverage figures differ between pages: the homepage cites around 98,000 issuers, the ESG ratings page 60,000+ companies and the SFDR PAI page 65,000+, so the coverage for a given dataset needs confirming rather than assuming.
  • Heavy use of AI estimation fills gaps that analyst-led providers leave empty, but an estimated figure is still not a reported one, and users should check confidence levels before relying on it in regulatory disclosures.
  • The physical risk web app with an interactive hazard map was only scheduled for July 2026; before then the asset-level physical risk product was datafeed only.
  • Glass Lewis is majority owned by Peloton Capital Management and Stephen Smith and also issues proxy voting recommendations, so ratings and stewardship advice now sit in one group; the company publishes conflict-of-interest controls, but it is a structural change from an independent data vendor.

Morningstar Direct

  • No published pricing on Morningstar's product pages, checked November 2026.
  • The full application is a Windows desktop install: the August 2026 technical specification lists Windows 11 and several .NET Framework versions as requirements, so it does not run natively on a Mac.
  • Some modules, including Asset Allocation and Portfolio Analysis, open in separate browser sites rather than inside the desktop application, according to Morningstar's own onboarding guide.
  • The product is strongest on managed investments; it is not a real-time trading or deal-data platform, so banks and traders usually need another terminal alongside it.
  • Morningstar's product pages did not return content to automated requests in November 2026, so feature detail has to come from PDFs, help pages and press releases.

Pricing, plan by plan

Clarity AI

On request
  • Enterprise$undefined/mo
    • Priced by quotation through Talk to an Expert or the contact form
    • Licensed by module: climate, ESG risk, regulation, impact and retail banking
    • Delivered via web app, API, datafeed, MCP or partner platforms

Morningstar Direct

On request
  • Morningstar Direct licence$undefined/mo
    • Priced by quotation through Morningstar sales, no list prices published
    • Desktop application for Windows with a separate Excel Add-In
    • Direct AI browser interface announced October 2026, pricing not stated

Which should you pick?

Choose Clarity AI if

  • You need customisable esg ratings.
  • You work on Web, API.
  • You also want sfdr and eu regulatory reporting.
Clarity AI review

Choose Morningstar Direct if

  • You need investment database and screening.
  • You work on Windows, Web, Excel.
  • You also want asset flows.
Morningstar Direct review

Questions people ask

Is Clarity AI or Morningstar Direct better?
Neither clearly leads. Clarity AI starts at On request and Morningstar Direct at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Clarity AI or Morningstar Direct?
Clarity AI starts at On request and Morningstar Direct at On request.
Does Clarity AI or Morningstar Direct run on more platforms?
Clarity AI runs on Web, API. Morningstar Direct runs on Windows, Web, Excel.
What is Clarity AI best used for?
Clarity AI is most often used for producing sfdr pai statements and article 8 and 9 periodic disclosures, testing whether holdings qualify as sustainable investments under a firm's own sfdr methodology, assessing physical climate risk across a portfolio or loan book at asset level, matching client sustainability preferences to products under mifid ii. Of those, producing sfdr pai statements and article 8 and 9 periodic disclosures and testing whether holdings qualify as sustainable investments under a firm's own sfdr methodology are not what Morningstar Direct is typically brought in for.
What can Clarity AI do that Morningstar Direct cannot?
Clarity AI covers Customisable ESG ratings, SFDR and EU regulatory reporting, Asset-level physical climate risk, Climate transition and carbon footprint. Morningstar Direct covers Investment database and screening, Asset Flows, Portfolio analysis and attribution, Asset Allocation.

Answered from the vendors’ own pages

Clarity AI: What does Clarity AI cover?

Sustainability and other extra-financial data for companies, funds and governments. The company cites coverage of around 98,000 issuers, 2.3 million private companies, more than 450,000 funds and 400-plus sovereigns, across climate, ESG risk, EU regulation and impact.

Source
Morningstar Direct: What is Morningstar Direct AI?

A rebuilt, agentic version of Morningstar Direct launched on 7 October 2026 with a new browser-based interface and three agents: Product Development, Distribution and Manager Research. Morningstar did not state pricing in the announcement.

Source
Clarity AI: How are Clarity AI ESG ratings built?

They are rules-based and use SASB materiality, drawing on more than 100 data sources with AI estimation and validation. Users can build custom profiles that choose topics, set weights and decide how missing data is handled, and trace each figure to its source.

Source
Morningstar Direct: What are the system requirements for Morningstar Direct?

Windows 11, at least 4 GB of memory (8 GB recommended), Microsoft Office 2016 or Microsoft 365, and .NET Framework 4.6.1, with 4.7 required for the Excel Add-In and 4.8 for Presentation Studio. Logins require multi-factor authentication or single sign-on.

Source
Clarity AI: Does Clarity AI help with SFDR reporting?

Yes. It calculates PAI indicators at entity and product level with portfolio look-through and produces pre-filled SFDR Annex I entity reports, Annexes II to V product disclosures for Article 8 and 9 funds, and the European ESG Template for distributors.

Source
Morningstar Direct: What does the Asset Flows module cover?

Estimated cash flow and market share data for open-end funds, ETFs, separate accounts and insurance products across several markets. US open-end fund flows are typically published by the eighth business day after month end.

Source
Clarity AI: What happened between Clarity AI and Glass Lewis?

The two companies combined in a transaction that closed on 21 September 2026 and was announced on 24 September. Terms were not disclosed. Existing products remain supported and will be integrated in phases, with Madrid named as the centre of excellence for sustainability, data and AI.

Source
Morningstar Direct: How much does Morningstar Direct cost?

Morningstar does not publish prices for Direct. Licences are arranged through its sales team.

Source
Clarity AI: How is Clarity AI data delivered?

Through a web app, APIs, datafeeds, standalone apps and MCP connectors for AI agents. It is also available inside platforms such as Aladdin, eFront, Clearstream and Allfunds.

Source
Morningstar Direct: Can Morningstar data be used from AI assistants?

Morningstar states that its investment intelligence is available through Claude, Microsoft Copilot and ChatGPT, in addition to the agents inside Direct AI.

Source
Clarity AI: Is Clarity AI regulated under the EU ESG Ratings Regulation?

Clarity AI Europe S.L. has applied to ESMA for authorisation of its ESG ratings products under Regulation (EU) 2024/3005, which has applied since 2 July 2026. The disclosures page states that over 98% of ESG rating revenue comes from investor-paid subscriptions.

Source
Clarity AI: What does Clarity AI cost?

Prices are not published. The site directs buyers to Talk to an Expert or the contact form for a quote.

Source
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