The discussion on caste among diasporic Hindus is often phrased in terms of a ‘retention' versus ‘change' hypothesis. Based on a review of literature and field observations in Trinidad, this paper argues that such an antithesis distorts our understanding of caste as a diasporic reality and clouds many of its fascinating nuances. The analysis of change that caste as an integral institution of Hinduism has undergone in Trinidad shows the heuristic significance of the concept of metamorphosis as an analytical device for the study of the dynamics of social institutions.