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Investment Analytics · head to head

FactSet vs Morningstar Sustainalytics

FactSet logo

FactSet

Investment Analytics

Financial data workstation, portfolio analytics and data feeds for investment professionals

From
On request
Free plan
No
Full reviewWebsite
Morningstar Sustainalytics logo

Morningstar Sustainalytics

Investment Analytics

ESG Risk Ratings, controversies and regulatory data for investors

From
On request
Free plan
No
Full reviewWebsite

The short version

  • Each has a real cost: FactSet no published pricing; FactSet's FAQ says cost depends on the use case and products required, and trials go through sales (checked November 2026).; Morningstar Sustainalytics no prices are published for any dataset or platform licence; everything goes through a request-details form, checked November 2026.
  • They diverge on capability: FactSet covers FactSet Workstation, Morningstar Sustainalytics covers ESG Risk Ratings.
  • Prices and features above were last checked on 12 November 2026.

Where they differ

Only the attributes on which FactSet and Morningstar Sustainalytics actually diverge.

Attributes where FactSet and Morningstar Sustainalytics differ
AttributeFactSetMorningstar Sustainalytics
PlatformsWindows, Web, APIWeb, API

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 FactSet

  • FactSet Workstation
  • Universal Screening
  • Microsoft Office integration
  • Portfolio Analysis
  • Mercury AI assistant
  • Model Context Protocol servers
  • Data feeds and cloud delivery

Only in Morningstar Sustainalytics

  • ESG Risk Ratings
  • Controversies Research
  • Low Carbon Transition Ratings
  • Regulatory datasets
  • Country Risk Ratings and sanctions screening
  • Global Access platform
  • API and data feeds
  • Corporate licences and second-party opinions

What people use each for

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

FactSet

  • Equity and credit research with company fundamentals, estimates and screeningnot Morningstar Sustainalytics
  • Performance attribution and risk reporting on buy-side portfoliosnot Morningstar Sustainalytics
  • Building refreshable financial models and pitch books in Excel and PowerPointnot Morningstar Sustainalytics
  • Loading FactSet datasets into Snowflake or Databricks for quant researchnot Morningstar Sustainalytics
  • Querying portfolio analytics from an internal AI assistant over MCPnot Morningstar Sustainalytics
  • Deal sourcing and due diligence for private capital teamsnot Morningstar Sustainalytics

Morningstar Sustainalytics

  • Screening an investment universe on unmanaged ESG risk before portfolio constructionnot FactSet
  • Monitoring holdings for ESG controversies with daily alertsnot FactSet
  • Producing SFDR, EU Taxonomy and EBA Pillar III disclosures from licensed datanot FactSet
  • Measuring portfolio alignment with net zero through implied temperature risenot FactSet
  • Prioritising engagement and proxy voting by material ESG issuenot FactSet
  • Licensing a company's own rating for marketing or a sustainability-linked loannot FactSet

Where each one falls short

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

FactSet

  • No published pricing; FactSet's FAQ says cost depends on the use case and products required, and trials go through sales (checked November 2026).
  • The Excel add-in is typically part of a broader subscription according to FactSet's FAQ, so Office integration cannot be bought as a lightweight standalone tool.
  • The installed Workstation is Windows only, with 16 GB or more of memory recommended and a base installation upgrade advised every 12 months, per FactSet's installation guide.
  • Portfolio Analytics MCP launched as a limited release in June 2026, so AI access to attribution and risk outputs is not yet a mature, generally available feature for every client.
  • Benchmark DataFeeds on Snowflake are built per client, and FactSet's own developer recipe says designing each workflow takes several days to a week.

Morningstar Sustainalytics

  • No prices are published for any dataset or platform licence; everything goes through a request-details form, checked November 2026.
  • The ESG Risk Ratings measure financial risk to the company from ESG issues, not the company's impact on the world, so a firm with a damaging product can still score low risk. Buyers wanting impact or double materiality need separate datasets.
  • The ratings depend on analyst assessment, which caps coverage: the ESG Risk Ratings page cites more than 16,000 companies, a fraction of the universe that model-driven providers claim.
  • Distribution is uneven by product: the Low Carbon Transition Ratings page lists FactSet, Aladdin and Bloomberg as planned rather than live, so a dataset available in one terminal may not be in another.
  • Since 1 December 2023 the site states its ESG ratings and data are not intended for India-based clients, users or residents.
  • Morningstar sells both these ratings and Morningstar Direct, and corporates can pay to license their own rating; investors relying on it should read the conflict-of-interest disclosures that come with the ESMA application, which was still pending in November 2026.

Pricing, plan by plan

FactSet

On request

No published plan breakdown. See the FactSet review.

Morningstar Sustainalytics

On request
  • Investor solutions$undefined/mo
    • Priced by quotation through a request-details form
    • Licensed by dataset: ESG Risk Ratings, controversies, climate, regulatory and screening
    • Delivered via Global Access, API, datafeed or partner platforms
  • Corporate solutions$undefined/mo
    • Priced by quotation
    • ESG rating licences, Top-Rated Companies badges and second-party opinions

Which should you pick?

Choose FactSet if

  • You need factset workstation.
  • You work on Windows, Web, API.
  • You also want universal screening.
FactSet review

Choose Morningstar Sustainalytics if

  • You need esg risk ratings.
  • You work on Web, API.
  • You also want controversies research.
Morningstar Sustainalytics review

Questions people ask

Is FactSet or Morningstar Sustainalytics better?
Neither clearly leads. FactSet starts at On request and Morningstar Sustainalytics at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, FactSet or Morningstar Sustainalytics?
FactSet starts at On request and Morningstar Sustainalytics at On request.
Does FactSet or Morningstar Sustainalytics run on more platforms?
FactSet runs on Windows, Web, API. Morningstar Sustainalytics runs on Web, API.
What is FactSet best used for?
FactSet is most often used for equity and credit research with company fundamentals, estimates and screening, performance attribution and risk reporting on buy-side portfolios, building refreshable financial models and pitch books in excel and powerpoint, loading factset datasets into snowflake or databricks for quant research. Of those, equity and credit research with company fundamentals, estimates and screening and performance attribution and risk reporting on buy-side portfolios are not what Morningstar Sustainalytics is typically brought in for.
What can FactSet do that Morningstar Sustainalytics cannot?
FactSet covers FactSet Workstation, Universal Screening, Microsoft Office integration, Portfolio Analysis. Morningstar Sustainalytics covers ESG Risk Ratings, Controversies Research, Low Carbon Transition Ratings, Regulatory datasets.

Answered from the vendors’ own pages

FactSet: How much does FactSet cost?

FactSet does not publish prices. Its FAQ says the cost varies with your use case and the specific products and services you need, and quotes and trials are arranged through the sales team.

Source
Morningstar Sustainalytics: What do Sustainalytics ESG Risk Ratings measure?

The amount of material ESG risk a company leaves unmanaged. Exposure is set at sub-industry level, unmanageable risk is separated out, and the remainder is assessed against the company's policies, programmes and controversies. The result falls in one of five bands: negligible, low, medium, high or severe.

Source
FactSet: Does FactSet have an Excel add-in?

Yes. FactSet's Office tools create auditable, refreshable links to FactSet content in Excel, Word, PowerPoint and Outlook. The FAQ notes the Excel add-in is typically part of a broader subscription.

Source
Morningstar Sustainalytics: How many companies does Sustainalytics rate?

The ESG Risk Ratings page states analyst coverage of more than 16,000 companies across public equity, fixed income and private issuers, using over 200 indicators and 1,800 data points. Controversies Research monitors more than 19,000 entities.

Source
FactSet: What are the system requirements for FactSet Workstation?

The installed Workstation and Office add-ins are a single MSI installer for Windows desktop and server operating systems. FactSet recommends 16 GB or more of memory, Windows 11 64-bit and Office 2016 or Microsoft 365, and upgrading the base installation every 12 months.

Source
Morningstar Sustainalytics: How is Sustainalytics data delivered?

Through the Global Access web platform, an API documented in OpenAPI and Swagger, scheduled datafeeds to SFTP, and partner platforms including Morningstar Direct, Bloomberg, Aladdin, FactSet, RIMES, Markit and Style Analytics.

Source
FactSet: Can FactSet data be delivered to Snowflake?

Yes. Standard DataFeed content can be delivered as Snowflake data shares, with each feed appearing as a schema with tables. Benchmark DataFeeds are customised per client and take several days to a week to design.

Source
Morningstar Sustainalytics: Who owns Sustainalytics?

Morningstar, Inc. It acquired a 40% stake in 2017 and completed the purchase of the remainder in July 2020.

Source
FactSet: What is the FactSet Portfolio Analytics MCP?

A Model Context Protocol server, announced as a limited release on 26 June 2026, that lets buy-side firms query governed performance, attribution and risk outputs from FactSet inside their own AI environments.

Source
Morningstar Sustainalytics: Is Sustainalytics authorised under the EU ESG Ratings Regulation?

Sustainalytics B.V. has applied to ESMA for authorisation as an ESG rating provider, covering eleven products including ESG Risk Ratings, controversy ratings and low carbon transition ratings. A decision had not been announced as of November 2026.

Source
Morningstar Sustainalytics: What does Sustainalytics cost?

Prices are not published. Investor and corporate products are sold by quotation through a request-details or contact form.

Source
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