In the present study, we examined oral and silent reading fluency and their relations with reading comprehension. In a series of structural equation models with latent variables using data from 316 first-grade students, (a) silent and oral reading fluency were found to be related yet distinct forms of reading fluency, (b) silent reading fluency predicted reading comprehension better for skilled readers than for average readers, (c) list reading fluency predicted reading comprehension better for average readers than for skilled readers, and (d) listening comprehension predicted reading comprehension better for skilled readers than for average readers. (Contains 4 tables, 3 footnotes, and 3 figures.)