One hundred and fifty one patients with a recent (<3 weeks) closed, intra-articular, displaced calcaneal fracture were randomized to either operative or nonoperative treatment. This study aimed to determine the efficacy of operative treatment after 2 years. Results indicated that there were no treatment effects for Kerr-Atkins scores, as well as for SF-36 scores, EQ-5D scores, American Orthopaedic Foot and Ankle Society scores, heel width, range of motion, walking speed, or any gait symmetry metrics. However, complications and reoperations were more frequent in the operative group versus the nonoperative group.