This study investigated the subjective qualities of dreams reported as including some awareness of dreaming (DWA) with matched dreams reported as including no awareness of dreaming (Dw/oA). Twenty-eight pairs of DWA and Dw/oA were selected from a large set of dreams (N = 788) reported and rated by 144 college women during a 2-week dream journal study (Kahan & Claudatos, 2015). In that study, participants used the Subjective Experiences Rating Scale (SERS; Kahan, 1994) to rate the prevalence of particular features (sensory, affective, cognitive, structural) of dreams reported on morning awakening. Dependent groups t tests indicated that DWA included a higher prevalence of positive emotion than Dw/oA (p < .001). Correlational analyses revealed a stronger relationship among subjective qualities for DWA than for Dw/oA. The strong positive relationship observed for DWA, but not Dw/oA, between cognition and the prevalence of negative emotion is of particular theoretical interest.