In the present study, we examined ethnic differences in perfectionism, loneliness, and self-construal schemas, as unique predictors of depressive and anxious symptoms in a sample of 223 Asian Americans and 309 European Americans. Results of comparative analyses indicated greater concern over mistakes, parental expectations, parental criticism, doubts about actions, loneliness, and interdependence in Asian, compared to European Americans. Furthermore, results of conducting hierarchical regression analyses indicated support for a pan-ethnic model involving perfectionism and loneliness as additive predictors of both depressive and anxious symptoms across Asian and European Americans. Interestingly, across both ethnic groups, self-construal was found to augment the prediction model of depressive symptoms, but not of anxious symptoms, beyond what was accounted for by perfectionism and loneliness. Some implications of the present findings are discussed.