Extreme low streamflows are natural disturbances to aquatic populations. Species in naturally intermittent streams display adaptations that enhance persistence during extreme events; however, the fate of populations in perennial streams during unprecedented low-flow periods is not well-understood. Biota requiring swift-flowing habitats may be especially vulnerable to flow reductions. We estimated the abundance and local survival of a native fluvial-dependent fish species (Etheostoma inscriptum) across 5 years encompassing historic low flows in a sixth-order southeastern USA perennial river. Based on capturemark-recapture data, the study shoal may have acted as a refuge during severe drought, with increased young-of-the-year (YOY) recruitment and occasionally high adult immigration. Contrary to expectations, summer and autumn survival rates (30 days) were not strongly depressed during low-flow periods, despite 25%-80% reductions in monthly discharge. Instead, YOY survival increased with lower minimum discharge and in response to small rain events that increased low-flow variability. Age-1+ fish showed the opposite pattern, with survival decreasing in response to increasing low-flow variability. Results from this population dynamics study of a small fish in a perennial river suggest that fluvial-dependent species can be resistant to extreme flow reductions through enhanced YOY recruitment and high survival