In wetlands, a distinct zonation of plant species composition occurs along moisture gradients, due to differential flooding tolerance of the species involved. However, "flooding" comprises two important, distinct stressors (soil oxygen demand [SOD] and partial submergence) that affect plant survival and growth. To investigate how these two flooding stressors affect plant performance, we executed a factorial experiment (water depth x SOD) for six plant species of nutrient-rich and nutrient-poor conditions, occurring along a moisture gradient in Dutch dune slacks. Physiological, growth, and biomass responses to changed oxygen availability were quantified for all species. The responses were consistent with field zonation, but the two stressors affected species differently. Increased SOD increased root oxygen deprivation, as indicated by either raised porosity or increased alcohol dehydrogenase (ADH) activity in roots of flood-intolerant species (Calamagrostis epigejos and Carex arenaria). While SOD affected root functioning, partial submergence tended more to reduce photosynthesis (as shown both by gas exchange and 13C assimilation), leaf dark respiration, 13C partitioning from shoots to roots, and growth of these species. These processes were especially affected if the root oxygen supply was depleted by a combination of flooding and increased SOD. In contrast, the most flood-tolerant species (Juncus subnodulosus and Typha latifolia) were unaffected by any treatment and maintained high internal oxygen concentrations at the shoot : root junction and low root ADH activity in all treatments. For these species, the internal oxygen transport capacity was well in excess of what was needed to maintain aerobic metabolism across all treatments, although there was some evidence for effects of SOD on their nitrogen partitioning (as indicated by 865N values) and photosynthesis. Two species intermediate in flooding tolerance (Carex nigra and Schoenus nigricans) responded more idiosyncratically, with different parameters responding to different treatments. These results show that partial submergence and soil flooding are two very different stressors to which species respond in different ways, and that their effects on physiology, survival, and growth are interactive. Understanding species zonation with water regimes can be improved by a better appreciation of how these factors affect plant metabolism independently and interactively.