Are theories ‘underdetermined by the evidence’ in any way that should worry the scientific realist? I argue that no convincing reason has been given for thinking so. A crucial distinction is drawn between data equivalence and empirical equivalence. Duhem showed that it is always possible to produce a data equivalent rival to any accepted scientific theory. But there is no reason to regard such a rival as equally well empirically supported and hence no threat to realism. Two theories are empirically equivalent if they share all consequences expressed in purely observational vocabulary. This is a much stronger requirement than has hitherto been recognised – two such ‘rival’ theories must in fact agree on many claims that are clearly theoretical in nature. Given this, it is unclear how much of an impact on realism a demonstration that there is always an empirically equivalent ‘rival’ to any accepted theory would have – even if such a demonstration could be produced. Certai...