The second year of California's statewide administration of the Smarter Balanced assessment allows parents, educators, and policymakers a second look at achievement and a first look at growth for K-12 students as measured by this standardized test. This report describes how California's students performed on the second year of the assessment relative to the first. The authors compare these results to those of other states administering the same exam; they also compare the first and second years of the California Standards Test (CST) to these first years of the Smarter Balanced assessment. The report examines district and school results for the cohort of students going from 4th to 5th grade, taking advantage of the fact that Smarter Balanced scores can be compared across grades in a meaningful way. The report compares achievement levels over time, considers the growth in student test scores, and examines the two measures in combination, using the state's new academic accountability metric. Controlling for demographic characteristics, the authors ask which districts and schools are performing better or worse than their peers, and whether they were also outliers on the previous years' standardized tests. The Local Control Funding Formula (LCFF) targets funding to districts, but because results at individual schools can often vary widely from the district average, the authors examine the differences in achievement and growth between schools and their districts. Findings reveal that California's school children did much better in the second year of the new statewide standardized tests, though achievement gaps have not substantially narrowed. The districts and schools that either exceeded or failed to meet expectations according to estimates based on their student demographics often differed from those identified as outliers by the state's new academic accountability measure. Results at many schools outperformed or--more often--lagged behind the overall results in their districts.