Background Difficulty regulating emotions is a symptom of many psychological disorders yet little research has examined the longitudinal relations of particular facets of emotion regulation (ER) that may differentiate between internalizing symptoms. Method At‐risk youth (n = 102; 44.1% boys, 77.5% Black; Mage = 9.65) and caregivers (n = 74; 87.1% mothers) participated in a 2‐year longitudinal study. Children reported on their ER, and children and caregivers on symptomatology. Results Different patterns, varying by emotion facet (dysregulation, inhibition, coping) and type (anger, sadness, worry), predicted anxiety and depression symptoms. Conclusions Anxiety and depression are entities with distinct patterns of emotion‐related antecedents.