The study documents the impact of market volatility and costs on the returns for different product types. The aim is to report on the costs bore and past performance achieved by European consumers between 2014 and 2018. The Report aims at facilitating increased participation of retail investors in capital markets by providing consistent EU-wide information on cost and past performance of retail investment products. It also demonstrates the relevance of disclosure of costs to consumers as required by PRIIPs regulation. The analysis documents that costs continue to have a significant impact on net returns and that given their nature, unit-linked products can offer high returns but also pose risks for consumers during periods of poor market returns. Overall costs remain high. Profit participation products continue having lower costs than unit-linked products confirming the trend observed in the previous edition of the report.