Individuals within populations can differ substantially in their life span and their lifetime reproductive success but such realized individual variation in fitness components need not reflect underlying heritable fitness differences visible to natural selection. Even so, biologists commonly argue that large differences in fitness components are likely adaptive, resulting from and driving evolution by natural selection. To examine this argument we use unique formulas to compute exactly the variance in life span and in lifetime reproductive success among individuals with identical (genotypic) vital rates (assuming a common genotype for all individuals). Such individuals have identical fitness but vary substantially in their realized individual fitness components. We show by example that our computed variances and corresponding simulated distribution of fitness components match those observed in real populations. Of course, (genotypic) vital rates in real populations are expected to differ by small but evolutionarily important amounts among genotypes, but we show that such differences only modestly increase variances in fitness components. We conclude that observed differences in fitness components may likely be evolutionarily neutral, at least to the extent that they are indistinguishable from distributions generated by neutral processes. Important consequences of large neutral variation are the following: Heritabilities for fitness components are likely to be small (which is in fact the case), small selective differences in life histories will be hard to measure, and the effects of random drift will be amplified in natural populations by the large variances among individuals.L ongitudinal studies of humans and other species show that individuals within a population often differ greatly in age at death and lifetime reproduction (1-4). For example, the SD of human age at death was ∼40% of life expectancy (∼35 y) in the early 1800s and ∼20% in the late 1900s even with a much higher life expectancy (∼70 y) (3). Lifetime reproduction of human females in high-fertility societies had a SD-to-mean ratio [coefficient of variation (CV)] of ∼0.5-1, and there was much greater variability in male lifetime reproduction (5, 6). Such variation obviously leads us to ask, Do the longest-lived individuals (or the most prolific reproducers) differ from other individuals because of heritable genetic differences? Many researchers assume the answer is "yes" (7-10), because both age at death and lifetime reproduction should be related to fitness (although they are not fitness, which is a property of genotypes as we discuss below) (Box 1). However, the desired genetic variation need not exist. For example, populations of genetically identical nematodes in the laboratory display substantial variation in age at death with CV ∼ 0.2. This variation is clearly not due to genetic differences, but is generated by stochastic variation during development (11). In this and other examples, individual fates are shaped by a sequence of stochastic ev...