Female steelhead trout (Oncorhynchus mykiss) reared for 1 year (traditional, “S1”) and 2 years (experimental, “S2”) in captivity in the Methow River Basin, Washington, produced very similar numbers of offspring in replicate spawning channels over 3 consecutive years. In contrast, S1 anadromous males outcompeted S2 males for access to nesting females and, as a result, produced significantly more offspring. Male dominance was positively associated with body mass, but body mass did not account for differences between S1 and S2 males. Much smaller precocious S2 males that matured during rearing in hatchery raceways sired offspring in all six breeding groups. Contributions from precocious males were nearly always the result of sneak spawning events, although on rare occasions, precocious males were able to stimulate females to spawn in the absence of an anadromous male. Similarities in female breeding success suggest that S1 and S2 hatchery steelhead should exhibit similar productivity under natural conditions, but S1 male steelhead may result in greater rates of gene flow from hatchery to natural populations.