We identified 73 genetic loci by meta-analysing cohorts of major depression and bipolar disorder, including 15 loci novel to mood disorders. Our overall mood disorders meta-analysis results (MOOD) have more in common with our major depressive disorder analysis (combined MDD) than our bipolar disorder analysis (PGC BD). Partly, this results from the greater power of the major depressive disorder analysis compared to the bipolar disorder analysis. Nevertheless, genetic associations from our sensitivity analysis with equivalently powered cohorts (using down-sampled MDD in place of combined MDD) still showed a greater overall similarity to those from major depressive disorder rather than bipolar disorder.