Inequalities in relative age distribution have previously been demonstrated to influence participation and performance achievements in Masters athletes. The purpose of the present study was to examine the participation- and performance-related constituent year effect among Masters athletes (N = 2,474) from the European Masters Track and Field Championships across subdisciplines and age. The results indicated that a participation-related constituent year effect was observed. The likelihood of participation was significantly higher for athletes in their first year of any 5-year age category (χ2 = 149.8, p < .001) and decreased significantly when they were in the fourth or fifth year. The results also indicated a performance-related constituent year effect. Masters athletes in their first year won significantly more medals than expected based on observed participation rate (χ2 = 23.39, p < .001). We compare our results with the existing literature and discuss potential mechanisms for this constituent year effect.