This study reports on an examination of the factor structure underlying reading performance in a sample of urban, dysfluent children. Participants were 140 second and third graders identified as exhibiting reading difficulties stemming from inefficient word and/or nonword reading. Consistent with a more complex view of reading, the results of structural equation modeling identify four distinct but correlated factors: word-level decoding, vocabulary knowledge, timing, and text-level skill. The relative independence of these factors in this sample illustrates the importance of assessing these four domains with measures identified as marker variables. Results are discussed in relation to models of early identification and remediation. (Contains 5 tables, 2 figures, and 1 note.)