Combination therapies with inhaled corticosteroids (ICS) and either long-acting beta2 agonists (LABA) or leukotriene receptor antagonists (LTRA) are commonly used to help patients maintain control of their asthma. LABA and LTRA have different mechanisms of action and both provide complementary benefits when combined with ICS. This paper compares the two regimens based on recent clinical trial data, evaluates their efficacy on various clinical and quality of life outcomes, and discusses the importance of therapy choice in people with specific asthma phenotypes. The potential of new dosing strategies, including adjustable maintenance therapy and single-inhaler maintenance and reliever therapy is also reviewed. Given the variety of outcomes, phenotypes, and treatment strategies that must be considered, the importance of individualized management is emphasized.