Research Findings: This study (N = 300; M age = 44.72 months, SD = 4.39) aimed to elucidate the distinct pathways leading to maladjustment in early childhood by examining whether or not peer victimization differentially predicts aggression and internalizing problems. Hypotheses were guided by the relational vulnerability model, which suggests peer victimization and relational aggression have deleterious effects on socioemotional adjustment. This study was novel in its hypotheses that these effects will depend on form of victimization (physical/relational) and that emotion regulation and gender moderate the association. Information was collected through naturalistic observations and teacher-report, and analyzed using structural equation modeling. Results demonstrated that, across 12 months, relational victimization predicted increased anxiety symptoms, whereas relational aggression predicted decreased overall internalizing symptoms. Emotion regulation, but not gender, was concluded to be a significant moderator, where the effect of relational victimization on anxiety symptoms was significant for those with average to high emotion regulation skills. Practice & Policy: Examination of differential pathways leading to maladjustment in early childhood is critical, as early identification of risk factors, such as relational victimization, may improve developmental outcomes. Thus, this knowledge can be used by early childhood educators and providers in maximizing socioemotional adjustment across development.