Abstract. Stock and catch statistics for a small (5–5ha) lowland put‐and‐take trout fishery have been used to investigate the relative catchability of brown, Salmo trutta L., and rainbow, Oncorhynchus mykiss (Walbaum), trout. Brown trout were consistently less vulnerable to fly fishing than rainbows, and were particularly difficult to catch between mid‐June and September. As a consequence, the turn‐over of rainbow trout stock was more rapid than that of brown trout, but eventual recapture levels of both species were similar at around 90% of the fish stocked. In these circumstances, brown trout could be regarded as a long‐term investment for fishery managers, with rainbows providing more‘instant’sport.