In this paper, I outline a disjunctivist proposal for understanding the intentionality of perceptions and hallucinations within a naïve realist framework. For the case of genuine perceptual experience, naïve realists can endorse a version of the view that their intentionality is phenomenally-grounded: perceptual experiences have intentionality in virtue of being relations of conscious acquaintance to aspects of the mind-independent environment. By contrast, hallucinations have intentionality dependently or derivatively, in virtue of their indiscriminability from, or similarity with respect to, perceptual experiences. (...) Within this proposal, naïve realists can allow that perceptions and hallucinations have a property in common – that of being intentionally directed at apparently mind-independent entities – whilst having wholly different metaphysical natures. (shrink)