Listeners can hear slow sinusoidal variations in the depth of sinusoidally amplitude-modulated (SAM) stimuli. Here, the SAM stimulus of frequency f(m) acts as the carrier, and the slow variation in depth of frequency f'm (referred to as "second-order" amplitude modulation) corresponds to a beat in the temporal envelope. Recent studies have suggested that second-order amplitude modulation perception is based on a modulation-distortion component or the "venelope" (the Hilbert envelope of the ac-coupled Hilbert envelope), both occurring at the envelope-beat frequency f'm. This was tested by transposing to the modulation domain the matching paradigm used by Schouten et al. [J. Acoust. Soc. Am. 34, 1418-1424 (1962)]. Listeners estimated the envelope-beat frequency evoked by a 5-Hz, second-order SAM white noise with f(m) either an integer multiple of f'm or shifted in frequency to make the complex envelope inharmonic. The results indicate that the perception of the envelope-beat frequency was affected by these shifts when f(m) < or = 20 Hz. This suggests that, at least at low modulation frequencies, the perceived envelope beat is not determined by a modulation-distortion or venelope component, but rather relies on the time intervals between the main peaks of the first-order envelope.