It has been argued that transracially adopted children have increased risk of problems related to self-esteem and ethnic identity development. We evaluated this hypothesis across four groups of transracial adoptees: Asian (n = 427), Latino (n = 28), Black (n = 6), mixed/other (n = 20), and same-race White adoptees (n = 126) from 357 adoptive families. No mean differences were found in adoptees’ ratings of affect about adoption or of curiosity about birth parents. Some differences were found in general identity development and adjustment. There were notable differences in communication about race/ethnicity across groups and between parent and child report.