We develop new equations for the eco-evolutionary dynamics of populations and their traits. These equations resolve the change in the phenotypic differentiation within a population, which better estimates how the variance of the trait distribution changes. We note that traits may be bounded, assume they may be described by beta distributions with small variances, and develop a coupled ordinary differential equation system to describe the dynamics of the total population, the mean trait value, and a measure of phenotype differentiation.The variance of the trait in the population is calculated from its mean and the population's phenotype differentiation.We consider an example of two competing plant populations to demonstrate the efficacy of the new approach. Each population may trade-off its growth rate against its susceptibility to direct competition from the other population. We create two models of this system: a population model based on our new ecoevolutionary equations; and a phenotype model, in which the growth or demise of each fraction of each population with a defined phenotype is simulated as it interacts with a shared limiting resource and its competing phenotypes and populations.