In the present article, the effects of phonological neighborhood density and word frequency in spoken word recognition were examined using distributional analyses of response latencies in auditory lexical decision. A density x frequency interaction was observed in mean latencies; frequency effects were larger for low-density words than for high-density words. Distributional analyses further revealed that for low-density words, frequency effects were reflected in both distributional shifting and skewing, whereas for high-density words, frequency effects were purely mediated by distributional skewing. The results suggest that word frequency plays a role in early auditory word recognition only when there is relatively little competition between similar-sounding words, and that frequency effects in high-density words reflect postlexical checking.