Melanin-based plumage polymorphism occurs in many wild bird populations and has been linked to fitness variation in several species. These fitness differences often arise as a consequence of variation in traits such as behaviour, immune responsiveness, body size and reproductive investment. However, few studies have controlled for genetic differences between colour morphs that could potentially generate artefactual associations between plumage colouration and trait variation. Here, we used zebra finches (Taeniopygia guttata) as a model system in order to evaluate whether life-history traits such as adult body condition and reproductive investment could be influenced by plumage morph. To maximise any potential differences, we selected wild-type and white plumage morphs, which differ maximally in their extent of melanisation, while using a controlled three-generation breeding design to homogenise the genetic background. We found that F2 adults with white plumage colouration were on average lighter and had poorer body condition than wild-type F2 birds. However, they appeared to compensate for this by reproducing earlier and producing heavier eggs relative to their own body mass. Our study thus reveals differences in morphological and life history traits that could be relevant to fitness variation, although further studies will be required to evaluate fitness effects under natural conditions as well as to characterise any potential fitness costs of compensatory strategies in white zebra finches.