A portfolio is a selection of investments used to produce an income or return.
Creating a portfolio allows you to consider various options for saving and keep track of your selections over time. This may help you learn to recognize the elements of risk associated with each option. Elements available for your portfolio include stocks, bonds, employee stock options, and other investments, which you may specify.

A watch list displays the trading prices of a collection of stocks and bonds.
Creating a watch list allows you to keep an eye on the trading prices (20 minutes delayed) of stocks or bonds that interest you. You can see at a glance how your picks are performing, but unlike the portfolio, the items in your watch list are not compared to a starting purchase price.