Abstract Background Advanced footwear technology has become commonplace in the competitive running world. However, a systematic exploration of the effects of each of the primary components has not yet been presented. Purpose To quantify running economy and step parameters in four different shoe conditions: PEBA shoes with plate, PEBA shoes without plate, EVA shoes with plate and EVA shoes without plate. Methods Participants ran at 14 km/h (n = 8 males) or 12 km/h (n = 6 females) on a treadmill. The shoe order was randomly assigned for the four shoe conditions, where the participants wore each shoe twice in a mirrored order. Results There was a significant reduction in metabolic power (1.0%) associated with the presence of a plate, as well as a similar reduction based on foam type (1.0%). However, there was no significant interaction between presence of plate and foam type. Adding a plate significantly reduced metabolic power for EVA by 1.3% but not for PEBA. PEBA foam significantly reduced metabolic power by 1.3% in shoes without a plate, but not for the shoes with a plate. Step frequency and contact time were similar between shoes and not correlated to running economy improvements. Conclusions Starting from a baseline condition with traditional foam without a plate, either adding a plate or using PEBA foam improved running economy with a similar amount (1.3%). Adding the alternate second feature non-significantly improved running economy with an additional 0.6%. The benefit of both technologies combined (1.9%) was smaller than the sum of its parts (1.3% each). Key points The use of a PEBA foam midsole or the addition of a carbon fiber plate improves running economy a similar amount when compared to a traditional EVA running shoe without a plate. Contrary to our hypothesis, the benefit of both technologies combined (1.9%) was smaller than the sum of its parts (1.3% each).