Platinum-cobalt alloy nanoparticles are of great interest as cathode catalysts for PEMFCs as they have been shown to have enhanced activity versus platinum. However, their relative stability against loss of electrochemically-active surface area in relation to Pt catalysts is still debated. In this study, the evolutions of Pt 3 Co particle size distributions (PSDs) in fuel cell and aqueous environments were followed during accelerated stress tests (ASTs) using in-operando ASAXS. The measured evolutions showed a degradation mechanism dominated by loss of particles smaller than the critical particle diameter (<5.2 to 6.1 nm, CPD), which depended on environment and the AST. These evolutions were compared to that of a Pt catalyst with a similar initial PSD, which was found to have a lower degradation rate than Pt 3 Co. The ASAXS data, as well as data from aqueous dissolution, X-ray absorption spectroscopy, individual particle energy-dispersive spectroscopy, X-ray fluorescence spectrometry, and kinetic Monte Carlo calculations support a loss mechanism of increased Pt dissolution from Pt 3 Co versus Pt due to destabilization caused by extensive dealloying of particles <∼5 nm during ASTs. Polymer electrolyte fuel cells (PEFCs) are a promising highefficiency energy conversion technology suitable for mobile and stationary applications. Two of the major issues still needing to be addressed for large-scale adoption are cost and durability. The major contributing factor to these issues is the electrocatalyst needed for the cathodic oxygen reduction reaction (ORR). Pt has been shown to be the best monometallic catalyst material for ORR 1 with high activity and good stability in the acidic environment of the PEFC.2,3 However, there is still a need for a more active, more stable, and less expensive cathode electrocatalyst to meet the demanding cost and lifetime requirements for many applications, especially for automotive propulsion power.Pt alloys are of great interest as ORR electrocatalysts as they are generally less expensive and have been shown to have enhanced activity versus Pt. [4][5][6] This enhancement in activity was found to be directly correlated with the Pt-Pt interatomic distance 7,8 and to the Pt d-band occupancy in the alloy. [8][9][10] However, there are concerns that the use of base metal alloying elements, which are generally less stable than Pt in acidic environments, could be accompanied by a loss in particle stability and corresponding loss in ORR activity. Conflicting reports exist about the overall stability of Pt alloy catalysts in relation to pure Pt catalysts. 5,6,[11][12][13] Some studies suggest that alloying has a positive effect while others show no significant impact on stability. It is known that relative stability is dependent on particle size, 14-16 the larger the initial particle size the more stable, and the majority of Pt alloy synthesis techniques are based on high temperature annealing processes which result in larger initial particle sizes. Therefore any comparisons between larger annea...