Canopy lianas differ considerably from trees in terms of wood anatomical structure, and they are suggested to have a demographic advantage—faster growth and higher survival—than trees. However, it remains unclear whether these anatomical and demographic differences persist at the seedling stage, when most liana species are self-standing and, consequently, might be ecologically similar to trees. We assessed how self-standing liana and tree seedlings differ in relation to wood anatomy, growth, and survival. We measured 12 wood traits and monitored seedling growth and survival over one year for 10 self-supporting liana and 10 tree seedling species from three tropical dry forests in Colombia. Liana and tree seedlings exhibited similar survival rates and wood anatomies for traits related to water storage and mechanical support. Yet, for traits associated with water transport, liana seedlings showed greater variability in vessel lumen size, while tree seedlings had higher vessel density. Also, the liana relative growth rate was significantly higher than for trees. These results indicate that, while self-supporting liana and tree seedlings are anatomically similar in terms of mechanical support and water storage—likely contributing to their similar survival rates—liana seedlings have a growth advantage, possibly due to more efficient water transport. These findings suggest that the well-documented anatomical and demographic differences between adult lianas and trees may depend on the liana’s developmental stage, with more efficient water transport emerging as a key trait from early stages.