The present study investigated whether the genetic determinants of neuroticism and depressive symptoms differ from those underlying perceived psychological stress. Multivariate structural equation models, which included age and sex as modifiers, were fitted to the total sample of 798 adolescents and young adults (female, n = 459; mean age 15.5 years). The sample included 139 monozygotic and 241 dizygotic twin pairs. Stress was measured using item response theory (IRT) scores, as derived from the Perceived Stress Scale and/or the Daily Life and Stressors Scale. Neuroticism was measured using the Neo-Five Factor Inventory or the Junior Eysenck Personality Questionnaire, depending on the age of the participant. Depressive symptoms were assessed using the IRT-scores of the Somatic and Psychological Health Report. The results suggest that the genetic effects underlying perceived psychological stress are largely shared with those that influence neuroticism and liability to depressive symptoms. However, separate genetic effects for perceived psychological stress that are not shared with neuroticism and depressive symptoms were also identified. The source of the identified trait specific effects requires further investigation.