The room temperature deformation behaviour of a series of model polycrystalline Ni-based superalloys with varying Mo content has been studied in compression using in situ neutron diffraction. Initially, it was found that intergranular load partitioning was operative, followed by interphase partitioning at higher applied loads, with yield of the γ phase and associated strain redistribution to the γ′ phase. The initiation of interphase load partitioning was found to be dependent on the lattice misfit, occurring at lower applied stress in alloys with larger lattice misfit, and was influenced by the sign of the lattice misfit. Notably, deformation behaviour was found to be contingent on the complex relationship between lattice misfit and the strength of each phase.