---
title: "PRIIPs"
description: "PRIIPs is the EU regulation requiring a standardised three-page KID for retail investment products, including UCITS funds since 2023, with an SRI and cost tables."
canonical: https://fundfactsapi.com/glossary/priips
published: 2026-09-04
updated: 2026-09-04
publisher: FundFacts API
---

# PRIIPs (PRIIPs Regulation, PRIIPs KID, Packaged Retail and Insurance-based Investment Products)

> PRIIPs is the EU regulation requiring a standardised three-page KID for retail investment products, including UCITS funds since 2023, with an SRI and cost tables.

**PRIIPs** stands for Packaged Retail and Insurance-based Investment Products, the EU regulation that requires manufacturers of retail investment products to publish a standardised key information document ([KID](https://fundfactsapi.com/glossary/kid)) of no more than three pages. It applies to structured products, insurance-based investments and, since 1 January 2023, to UCITS funds sold to EU retail investors, which previously used the UCITS [KIID](https://fundfactsapi.com/glossary/kiid).

A PRIIPs KID contains the product's objectives, a summary risk indicator ([SRI](https://fundfactsapi.com/glossary/sri)) on a scale of 1 to 7, performance scenarios, a cost table showing one-off, ongoing and incidental costs plus transaction costs, and the recommended holding period.

## Why it matters

The switch from KIID to KID changed the numbers developers read. The risk indicator moved from the volatility-only [SRRI](https://fundfactsapi.com/glossary/srri) to the SRI, which also considers credit risk, so the same fund can show a different score. Past performance left the KID itself and now lives in a separate document, and costs are split more finely, with transaction costs disclosed for the first time. The UK operates its own onshored version of the regime, so a fund distributed in both markets may publish two different documents.

## In the API

The risk score shown in the fund's current KID is returned as `riskRating`, with a plain-English band in `profile.riskBand`.

```json
{
  "riskRating": 4,
  "profile": {
    "riskBand": "medium"
  }
}
```

Example values. Fee figures from the cost table map to `headlineMetrics.ter`.

## Common pitfalls

- Do not compare an SRI from a 2024 KID with an SRRI from a 2021 KIID as if they were the same scale.
- Performance scenarios in a KID are regulatory projections, not forecasts; avoid presenting them as expected returns.

## In the FundFacts API payload

- `riskRating`
- `profile.riskBand`
- `headlineMetrics.ter`

## About FundFacts API

FundFacts turns any fund or ETF ISIN into one dated factsheet (fees and KID costs, the 1–7 risk indicator, holdings, sector and country exposure, returns) read from the fund house's own documents: as a client-ready PDF under your firm's name for advisers and wealth managers, as JSON through its API for developers, or inside ChatGPT and Claude through its MCP server.

FundFacts works inside ChatGPT and Claude as a connector (a remote MCP server): ask about any fund or ETF by ISIN, ticker or name and the assistant answers from FundFacts' dated figures, fees, risk, holdings, exposure and returns, with fund cards, side-by-side comparisons, holdings overlap and portfolio look-through.

- Free API key, no card: https://fundfactsapi.com/signup
- Documentation: https://fundfactsapi.com/docs (OpenAPI: https://fundfactsapi.com/openapi.json)
- MCP server: https://fundfactsapi.com/api/mcp (set-up for every client: https://fundfactsapi.com/mcp-server)
- Pricing: https://fundfactsapi.com/pricing
- Site index for AI assistants: https://fundfactsapi.com/llms.txt
- Informational data, not investment advice.