The Pentecostal worldview is often seen in conflict with a sacramental worldview. In contrast, the authors of this article argue that sacramentality and reality are helpful terms that together illuminate the Pentecostal understanding of being-in-the-world. The essay delineates the challenges and opportunities in bringing both notions into dialogue and suggests that sacramentality is not an optional but a necessary component for a fuller understanding of Pentecostalism. The narrative underlying this proposal follows the tension between a 'this-is-that' and a 'this-is-not-that' hermeneutic characteristic of early modern-day Pentecostals. Central to such an endeavor is an understanding of how the dialogue between Pentecostal and sacramental theology informs and challenges both sides.