This research evaluated possible sources of individual differences in early explicit, smaller segment phonological awareness. In particular, the unique contributions of oral vocabulary and alphabetic knowledge to phonemic awareness acquisition were examined across the first year of school. A total of 57 participants were tested in kindergarten (mean age 5 years, 8 months) and again 1 year later midway through Grade 1. Results revealed that oral vocabulary and alphabetic knowledge were correlated with concurrent larger segment phonological awareness and phonemic blending in kindergarten whereas oral vocabulary was the only measure that predicted unique variance in phonemic awareness into Grade 1. Further, this pattern of results was most pronounced for analytic (segmenting), as opposed to synthetic (blending), phonemic awareness. These results highlight the importance of different component processes to explicit, smaller segment awareness depending upon the developmental period under study and also accentuate the need to separate analytic from synthetic phonemic awareness in literacy research. (Contains 3 tables.)