Previous studies analysing the differences in emotionality in first and second language suggest that affective content of lexical items is modulated in certain contexts. This paper investigates the differences in valence and arousal ratings for 300 early words, in both oral and written modalities, through speakers’ subjective appraisal of words given by two immersion groups of Spanish late bilinguals (Chinese and European) compared with a group of native speakers. The main goal of our study is to identify the lexical areas where variability occurs, regarding to a set of affective (emotional charge and intensity), grammatical (nouns, adjectives and verbs) and semantic (concreteness) features of words. Our results show that valence is the dimension where the greatest variability is observed between native and bilinguals, although the influence of the independent factors differs considerably. Besides, arousal yields illuminating data regarding the grammatical category of words and differentiation between the groups of participants.