Objectives <p>Decentering is a well-documented emotion regulation strategy that promotes mental well-being and overlaps with aspects of mindfulness. However, decentering may be experienced as involuntary and distressing in some contexts, such as when experienced as an adverse reaction to mindfulness meditation or as part of the symptomatology of depersonalization-derealization disorder. The existing literature has not differentiated the metacognitive state of decentering from the voluntary ability to achieve such a state. We proposed a modified scale that reflects a conceptualization of decentering as value-neutral, evaluated the factor structures of the modified and original scales, and compared the associations of the two scales with depersonalization symptoms, general psychological distress, and aspects of mindfulness.</p> Methods <p>A total of 400 adult participants were recruited online via Cloud Research and completed the Cambridge Depersonalization Scale, Depression Anxiety Stress Scales, and Five Facet Mindfulness Questionnaire. Participants also completed either the original Metacognitive Processes of Decentering Scale or a modified, value-neutral version of the scale intended to assess decentering tendency (versus subjective ability).</p> Results <p>Both the modified (decentering tendency) and original (subjective decentering ability) scales fit a correlated three-factor structure and showed good internal consistency. As hypothesized, greater subjective decentering ability but not tendency was associated with less mental distress, greater decentering tendency but not subjective ability was associated with greater depersonalization symptoms, and subjective decentering ability and tendency showed distinct associations with the facets of mindfulness.</p> Conclusions <p>Our results provide support for a conceptual distinction between subjective decentering ability and decentering tendency and suggest that while decentering ability is related to positive mental health outcomes, the tendency to decenter may not be universally adaptive.</p> Preregistration <p>This study was not preregistered.</p>