This paper demonstrates the applicability of an innovative approach towards examining child disadvantage, using a holistic, dynamic measure that not only accounts for multiple sources of disadvantage but also for the recurrence and persistence of disadvantage throughout a child’s life. We analyse child disadvantage using two longitudinal surveys of the Australian child population, one of which is specific to Indigenous children, who experience notably higher rates of disadvantage. Among Australian children, we detect that poor body weight and bullying—representative of the broad dimensions of health and emotional wellbeing—should be of significant concern to policymakers. Among Indigenous children, housing conditions, schooling and exposure to risky behaviours stand out as areas of concern. By identifying the dimensions in which rates of child disadvantage are most severe, this methodological approach can help steer targeted policy actions.