Polyurethane dispersions were prepared and urethane/acrylic composite latices were synthesized with polyurethane dispersions as the seed, and core-shell emulsion polymerization. Fourier-transform infrared spectroscopy coupled with attenuated total re¯ectance (FTIR-ATR) analyses showed that the ®lms obtained from the composite latices were rich in polyurethane component or segments at air-facing and substrate-facing surfaces, in comparison with their average composition. Moreover, the substrate-facing surface contained even more polyurethane component or segments than the air-facing surface. X-ray photoelectron spectroscopy (XPS) detection also indicated that the polyurethane component or segments preferentially migrated to the surface layer of the ®lms from the bulk, and that the ®lms from blend latices displayed more polyurethane component or segments near the surface layer. Both FTIR-ATR and XPS analyses suggested that some reorientation had happened in synthesizing the composite latices and/or after ®lm formation. This structure and composition endow urethane/acrylic composite ®lms with both surface properties (such as marresistance, adhesion, wettability) from pure polyurethane, and ®lm hardness from acrylic copolymers.