Split failures have been a conventional method to estimate overcapacity at signalized intersections. Currently, split failures are estimated from high-resolution (HR) traffic signal controller event data by evaluating occupancy at the stop bar. Recently, a technique that uses high-fidelity connected vehicle (CV) trajectory data to estimate split failures has been developed and has been adopted by some agencies. This paper compares cycle-by-cycle split failure estimations from both techniques for 42 signalized intersections across central Indiana. CV trajectories were assigned to a cycle based on their arrival characteristics. Then, HR and CV data were used to determine whether each cycle split fails. Finally, agreements and discrepancies were quantified and evaluated. The results obtained after analyzing over 35,000 cycles showed that both techniques produce similar overall split failure estimations. The HR and the CV methods identified 4% and 3% of all cycles as split failing, respectively. However, only 23% of all cycles determined as split failing with the HR approach were also identified as split failing with CV data. Similarly, only 30% of all cycles determined as split failing with the CV approach were also identified as split failing with the HR approach. This indicates significant discrepancies on a cycle-by-cycle basis. Using CV data to identify split failing cycles produces more conservative results and is based on the entire experience of traversing vehicles. If data are available, the authors recommend the CV approach when allocating limited agency resources for operational improvement activities.