Traits related to reproduction and dispersal drive the assembly and dynamics of species communities and can explain and predict how species respond to habitat loss and fragmentation and to the changing climate. For fungi, such links remain poorly known. We examine how spore production rate, a key demographic trait, is influenced by the interaction between environmental conditions and species traits. We monitored the spore production of 97 wood-inhabiting fungal species on 107 decaying logs and analyzed the data with a hierarchical community model. Our study shows that species display different seasonal and diurnal release patterns, with important implications for dispersal. We also provide the first quantitative evidence that fungi face the classic trade-off of investing either in the number or size of offspring. We provide new angles towards understanding different fungal life history strategies, which have implications for species' ability to survive the ongoing biodiversity crisis.