diff --git a/src/utils/UndoManager.js b/src/utils/UndoManager.js
index 022d8985..cf42dbd1 100644
--- a/src/utils/UndoManager.js
+++ b/src/utils/UndoManager.js
@@ -99,7 +99,7 @@ const popStackItem = (undoManager, stack, eventType) => {
           performedChange = true
         }
       }
-      result = stackItem
+      result = performedChange ? stackItem : null
     }
     transaction.changed.forEach((subProps, type) => {
       // destroy search marker if necessary
diff --git a/tests/undo-redo.tests.js b/tests/undo-redo.tests.js
index 8af25c8e..c1f5129a 100644
--- a/tests/undo-redo.tests.js
+++ b/tests/undo-redo.tests.js
@@ -270,3 +270,34 @@ export const testUndoDeleteFilter = tc => {
   array0.get(0)
   t.assert(Array.from(array0.get(0).keys()).length === 1)
 }
+
+/**
+ * This issue has been reported in https://discuss.yjs.dev/t/undomanager-with-external-updates/454/6
+ * @param {t.TestCase} tc
+ */
+export const testUndoUntilChangePerformed = tc => {
+  const doc = new Y.Doc()
+  const doc2 = new Y.Doc()
+  doc.on('update', update => Y.applyUpdate(doc2, update))
+  doc2.on('update', update => Y.applyUpdate(doc, update))
+
+  const yArray = doc.getArray('array')
+  const yArray2 = doc2.getArray('array')
+  const yMap = new Y.Map()
+  yMap.set('hello', 'world')
+  yArray.push([yMap])
+  const yMap2 = new Y.Map()
+  yMap2.set('key', 'value')
+  yArray.push([yMap2])
+
+  const undoManager = new Y.UndoManager([yArray], { trackedOrigins: new Set([doc.clientID]) })
+  const undoManager2 = new Y.UndoManager([doc2.get('array')], { trackedOrigins: new Set([doc2.clientID]) })
+
+  Y.transact(doc, () => yMap2.set('key', 'value modified'), doc.clientID)
+  undoManager.stopCapturing()
+  Y.transact(doc, () => yMap.set('hello', 'world modified'), doc.clientID)
+  Y.transact(doc2, () => yArray2.delete(0), doc2.clientID)
+  undoManager2.undo()
+  undoManager.undo()
+  t.compareStrings(yMap2.get('key'), 'value')
+}