Gender-specific requirements of reproduction in dioecious species can lead to different physiological responses in male and female plants, made in relation to environmental constraints, and influencing growth, survival and population structure. Gender-related physiological differences and seasonal responses, indicating the existence of compensatory mechanisms of reproduction, were examined during a drought year in the dioecious shrub species Corema album. To integrate aboveground and belowground physiological responses, chlorophyll fluorescence, leaf gas exchange, water potential and xylem water isotopic composition were monitored throughout the diurnal cycle and annual phenological sequence of the species. Sampling was carried out in Doñana Natural Park (SW Spain) in Mediterranean-type climate conditions. The gender which bore greater reproductive effort showed higher physiological stress. Intersexual differences in leaf water potential were interpreted as arising from each gender's maximum reproductive allocation; lower values were found during flowering in males and during fruit production in females. Cold temperatures during winter fostered photoinhibitory responses that were most evident in male individuals, as a response to their relatively higher investment in reproduction during flowering. Net assimilation rate was not influenced by reproductive status; however, females tended to show higher values of this parameter at midday. The integrated analysis of photosynthetic variables and water relations indicated a gender effect in the physiological response at midday. The oxygen isotopic composition of xylem water showed a lack of dependence on the water table during the drought period, and indicated intersexual differences in water catchment. Females reached deeper soil layers, suggesting mechanisms compensating for their higher reproductive effort, and giving new evidence of physiological gender dimorphism in the belowground responses of a woody species.