To test the hypothesis of co-adaptation of life histories and daytime vertical distribution (vertical migration behaviour) in Daphnia, life history characteristics were analysed for two positively, three negatively, and four intermediately phototactic Daphnia magna clones. Clones with different phototactic behaviour were found to have divergent life history strategies, with positively phototactic clones being good exploiters under the non-limiting conditions provided in the laboratory, i.e. low density (1 ind./1), high food concentration (6,5-7 10(5) Scenedesmus cells/ml, restored daily) and high temperature (20-degrees-C). They realized a high intrinsic rate of increase at a small adult body size through rapid development, at a cost of producing small neonates. Negatively and intermediately phototactic clones had larger adult body sizes, and produced larger neonates that were more starvation-resistant than those of positively phototactic clones. Selection for high intrinsic rate of increase in intermediately phototactic clones was mediated through the production of large clutches.