Abstract This paper investigates intraseasonal variability as represented by the recent NASA Global Modeling and Assimilation Office (GMAO) reanalysis, the Modern-Era Retrospective analysis for Research and Applications (MERRA). The authors examine the behavior of heat, moisture, and radiative fluxes emphasizing their contribution to intraseasonal variations in heat and moisture balance integrated over the tropical oceans. MERRA successfully captures intraseasonal signals in both state variables and fluxes, though it depends heavily on the analysis increment update terms that constrain the reanalysis to be near the observations. Precipitation anomaly patterns evolve in close agreement with those from the Tropical Rainfall Measuring Mission (TRMM) though locally MERRA may occasionally be smaller by up to 20%. As in the TRMM observations, tropical convection increases lead tropospheric warming by approximately 7 days. Radiative flux anomalies are dominated by cloud forcing and are found to replicate the top-of-the-atmosphere (TOA) energy loss associated with increased convection found by other observationally based studies. However, MERRA’s convectively produced clouds appear to deepen too soon as precipitation increases. Total fractional cloud cover variations appear somewhat weak compared to observations from the Moderate Resolution Imaging Spectroradiometer (MODIS). Evolution of the surface fluxes, convection, and TOA radiation is consistent with the “discharge–recharge” paradigm that posits the importance of lower-tropospheric moisture accumulation prior to the expansion of organized deep convection. The authors conclude that MERRA constitutes a very useful representation of intraseasonal variability that will support a variety of studies concerning radiative–convective–dynamical processes and will help identify pathways for improved moist physical parameterization in global models.