diff --git a/src/Plugin/Field/FieldFormatter/EntityReferenceRevisionsFormatterBase.php b/src/Plugin/Field/FieldFormatter/EntityReferenceRevisionsFormatterBase.php
index e098f52..1535682 100644
--- a/src/Plugin/Field/FieldFormatter/EntityReferenceRevisionsFormatterBase.php
+++ b/src/Plugin/Field/FieldFormatter/EntityReferenceRevisionsFormatterBase.php
@@ -13,14 +13,18 @@ abstract class EntityReferenceRevisionsFormatterBase extends EntityReferenceForm
    * {@inheritdoc}
    */
   public function prepareView(array $entities_items) {
-    // Entity revision loading currently has no static/persistent cache and no
-    // multiload. As entity reference checks _loaded, while we don't want to
-    // indicate a loaded entity, when there is none, as it could cause errors,
-    // we actually load the entity and set the flag.
     foreach ($entities_items as $items) {
       foreach ($items as $item) {
-
-        if ($item->entity) {
+        // To avoid trying to reload non-existent entities in
+        // getEntitiesToView(), explicitly mark the items where $item->entity
+        // contains a valid entity ready for display. All items are initialized
+        // at FALSE.
+        $item->_loaded = FALSE;
+        if ($item->getReferencedEntity() !== NULL) {
+          $item->entity = $item->getReferencedEntity();
+          $item->_loaded = TRUE;
+        }
+        elseif ($item->hasNewEntity()) {
           $item->_loaded = TRUE;
         }
       }
diff --git a/src/Plugin/Field/FieldType/EntityReferenceRevisionsItem.php b/src/Plugin/Field/FieldType/EntityReferenceRevisionsItem.php
index 62a574f..76c042d 100644
--- a/src/Plugin/Field/FieldType/EntityReferenceRevisionsItem.php
+++ b/src/Plugin/Field/FieldType/EntityReferenceRevisionsItem.php
@@ -39,6 +39,11 @@ use Drupal\entity_reference_revisions\EntityNeedsSaveInterface;
 class EntityReferenceRevisionsItem extends EntityReferenceItem implements OptionsProviderInterface, PreconfiguredFieldUiOptionsInterface {
 
   /**
+   * Reference to the entity pointed to by this field.
+   */
+  protected $entity_cache;
+
+  /**
    * {@inheritdoc}
    */
   public function storageSettingsForm(array &$form, FormStateInterface $form_state, $has_data) {
@@ -202,6 +207,28 @@ class EntityReferenceRevisionsItem extends EntityReferenceItem implements Option
   }
 
   /**
+   * Returns the referenced entity at the correct revision.
+   */
+  public function getReferencedEntity() {
+    if (isset($this->entity)) {
+      return $this->entity;
+    }
+    elseif (isset($this->entity_cache)) {
+      return $this->entity_cache;
+    }
+    elseif (isset($this->target_id)) {
+      $storage = \Drupal::entityTypeManager()->getStorage($this->getSetting('target_type'));
+      // By default always load the default revision, so caches get used.
+      $this->entity_cache = $storage->load($this->target_id);
+      if ($this->entity_cache !== NULL && $this->entity_cache->getRevisionId() != $this->revision_id) {
+        // A non-default revision is a referenced, so load this one.
+        $this->entity_cache = $storage->loadRevision($this->revision_id);
+      }
+      return $this->entity_cache;
+    }
+  }
+
+  /**
    * {@inheritdoc}
    */
   public function onChange($property_name, $notify = TRUE) {