Abstract The El Niño–La Niña asymmetry is evaluated in 14 coupled models from phase 5 of the Coupled Model Intercomparison Project (CMIP5). The results show that an underestimate of ENSO asymmetry, a common problem noted in CMIP3 models, remains a common problem in CMIP5 coupled models. The weaker ENSO asymmetry in the models primarily results from a weaker SST warm anomaly over the eastern Pacific and a westward shift of the center of the anomaly. In contrast, SST anomalies for the La Niña phase are close to observations. Corresponding Atmospheric Model Intercomparison Project (AMIP) runs are analyzed to understand the causes of the underestimate of ENSO asymmetry in coupled models. The analysis reveals that during the warm phase, precipitation anomalies are weaker over the eastern Pacific, and westerly wind anomalies are confined more to the west in most models. The time-mean zonal winds are stronger over the equatorial central and eastern Pacific for most models. Wind-forced ocean GCM experiments suggest that the stronger time-mean zonal winds and weaker asymmetry in the interannual anomalies of the zonal winds in AMIP models can both be a contributing factor to a weaker ENSO asymmetry in the corresponding coupled models, but the former appears to be a more fundamental factor, possibly through its impact on the mean state. The study suggests that the underestimate of ENSO asymmetry in the CMIP5 coupled models is at least in part of atmospheric origin.