The public’s ability to discern the veracity of news has attracted substantial interest. Lack of metacognitive awareness (i.e., knowing one’s skill level) is one barrier to improving this skill set. Performance feedback could reduce overconfidence and spur differential responding, or adopting a new evaluation strategy, by providing such information. We randomize the provision of feedback (with the feedback message determined by the respondent’s actual performance in a preliminary headline evaluation task) to test this proposition (N = 1,846). We find that for both “above average” and “below average” groups, feedback reduced confidence, and for below-average respondents this resulted in lower overconfidence. However, this reduced confidence did not translate into improved performance on a subsequent discernment task for either group. Notably, when re-contacted 1 week later (N = 668), the reduced overconfidence effect persisted for the below-average group. These results suggest that although relative performance feedback effectively targets metacognitive awareness, more constructive feedback may be required to actually improve discernment performance.