Objective: To assess the validity, sensitivity, and responsiveness of self-report and standardized, performance-based measures of physical function: Activity Measure for Post-Acute Care (AM-PAC) basic mobility and daily activity; 36-Item Short-Form Health Survey physical function (PF-10); Physical Functional Performance (PFP-10); Short Physical Performance Battery (SPPB); gait speed; and six-minute walk test (6MWT). Design: Randomized clinical trial. Setting: Community. Participants: People with recent hip fracture (N=108). Intervention: Investigational drug to increase strength versus placebo. Main Outcome Measures: Known-groups, construct, and predictive validation, effect size, and minimal detectable change (MDC90) at 12 weeks. Results: All measures achieved acceptable known-groups and construct validity. Odds ratios (ORs) in predicting patient global assessment of improvement were: AM-PAC basic mobility (OR=5.3); AM-PAC daily activity (OR=3.6); PF-10 (OR=4.3); SPPB (OR=2.0); PFP-10 (OR=2.5); gait speed (OR=1.9); and 6MWT (OR=2.4). All effect sizes exceeded 1 standard deviation. Percentage of patients exceeding MDC90 were: AM-PAC basic mobility (90%); AM-PAC daily activity (74%); PF-10 (66%); PFP-10 (75%); SPPB (36%); gait speed (69%); and 6MWT (75%). Conclusions: The validity, sensitivity, and responsiveness of self-report and performance-based measures are comparable in this population. Both types of measures are recommended for trials with physical function endpoints.