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The hydraulic coordination along the water transport pathway helps trees provide adequate water supply to the canopy, ensuring that water deficits are minimized and that stomata remain open for CO2 uptake. We evaluated the stem and leaf hydraulic coordination and the linkages between hydraulic traits and the timing of diurnal depression of photosynthesis across seven evergreen tree species in the southern Andes. There was a positive correlation between stem hydraulic conductivity (ks) and leaf hydraulic conductance (KLeaf) across species. All species had similar maximum photosynthetic rates (Amax). The species with higher ks and KLeaf attained Amax in the morning, whereas the species with lower ks and KLeaf exhibited their Amax in the early afternoon concurrently with turgor loss. These latter species had very negative leaf water potentials, but far from the pressure at which the 88% of leaf hydraulic conductance is lost. Our results suggest that diurnal gas exchange dynamics may be determined by leaf hydraulic vulnerability such that a species more vulnerable to drought restrict water loss and carbon assimilation earlier than species less vulnerable. However, under stronger drought, species with earlier CO2 uptake depression may increase the risk of hydraulic failure, as their safety margins are relatively narrow. Stem and leaf hydraulic traits were positively correlated across temperate evergreen tree species. Although all species had similar maximum photosynthesis rates, the diurnal depression occurred earlier in species with higher hydraulic efficiency and leaves more vulnerable to drought than in the species less efficient but more resistance to loss of leaf hydraulic conductance. [ABSTRACT FROM AUTHOR]