Heart failure with preserved ejection fraction has become a fashionable diagnosis. An increasing number of elderly patients with dyspnea carry this diagnosis. Evaluation and management of these patients typically labeled as having “diastolic” heart failure are challenging, and misconceptions are common. No drug class has been shown to consistently provide outcome benefit. Therapeutic strategies based on the predominant pathophysiologic mechanism and stage of the disease currently remain the best option in tackling the perplexing syndrome of heart failure with preserved ejection fraction.