diff --git a/packages/react-hot-loader/src/utils.dev.js b/packages/react-hot-loader/src/utils.dev.js
index de79ddbd1..4da0f09f1 100644
--- a/packages/react-hot-loader/src/utils.dev.js
+++ b/packages/react-hot-loader/src/utils.dev.js
@@ -5,7 +5,12 @@ import { setConfig as setProxyConfig } from 'react-stand-in'
 
 setProxyConfig({ logger })
 
+const getProxyOrType = type => {
+  const proxy = getProxyByType(type)
+  return proxy ? proxy.get() : type
+}
+
 export const areComponentsEqual = (a, b) =>
-  getProxyByType(a) === getProxyByType(b)
+  getProxyOrType(a) === getProxyOrType(b)
 
 export const setConfig = config => Object.assign(reactHotLoader.config, config)
diff --git a/packages/react-hot-loader/test/utils.test.js b/packages/react-hot-loader/test/utils.test.js
new file mode 100644
index 000000000..3f6d5b924
--- /dev/null
+++ b/packages/react-hot-loader/test/utils.test.js
@@ -0,0 +1,66 @@
+import React, { Component } from 'react'
+import reactHotLoader from '../src/reactHotLoader'
+import { areComponentsEqual } from '../src/utils.dev'
+
+reactHotLoader.patch(React)
+
+describe('utils (dev)', () => {
+  describe('areComponentsEqual', () => {
+    const createClasses = () => {
+      class Component1 extends Component {
+        render() {
+          return 42
+        }
+      }
+
+      class Component2 extends Component {
+        render() {
+          return 43
+        }
+      }
+
+      return { Component1, Component2 }
+    }
+
+    const createStateless = () => {
+      const Component1 = () => 42
+      const Component2 = () => 43
+      return { Component1, Component2 }
+    }
+
+    const testSuite = factory => {
+      it('should compare non-registred components', () => {
+        const { Component1, Component2 } = factory()
+
+        const element1 = <Component1 />
+        const element2 = <Component2 />
+
+        expect(Component1 === Component2).toBe(false)
+        expect(Component1 === element1.type).toBe(false)
+
+        expect(areComponentsEqual(Component1, element1.type)).toBe(true)
+        expect(areComponentsEqual(Component1, element2.type)).toBe(false)
+      })
+
+      it('should compare registered components', () => {
+        const { Component1, Component2 } = factory()
+
+        reactHotLoader.register(Component1, 'Class1', 'util.dev')
+        reactHotLoader.register(Component2, 'Class2', 'util.dev')
+
+        const element1 = <Component1 />
+        const element2 = <Component2 />
+
+        expect(Component1 === Component2).toBe(false)
+        expect(Component1 === element1.type).toBe(false)
+
+        expect(areComponentsEqual(Component1, element1.type)).toBe(true)
+        expect(areComponentsEqual(Component1, element2.type)).toBe(false)
+      })
+    }
+
+    describe('class based', () => testSuite(createClasses))
+
+    describe('function based', () => testSuite(createStateless))
+  })
+})