Drawing on three waves of survey data, the authors examined the effects of criminal victimization on depression. First, the authors developed a structural equation model to determine whether criminal victimization predicts depression. Second, recognizing that victimization is contingent on background factors, they tested whether victimization, conceptualized as an assigned treatment, has significant effects on depression, using inverse probability of treatment weighting (IPTW). In structural equation modeling equations, victimization predicts initial levels of depression and change in depression across waves. In the IPTW regression models, victimization had significant effects on levels of depression. There is considerable evidence to suggest that victimization influences depression, and investigators must be cautious when examining the temporal and selection issues surrounding the effects.