diff --git a/packages/svelte/src/internal/client/context.js b/packages/svelte/src/internal/client/context.js
index 18d906890d..4e9eac6b01 100644
--- a/packages/svelte/src/internal/client/context.js
+++ b/packages/svelte/src/internal/client/context.js
@@ -169,37 +169,30 @@ export function push(props, runes = false, fn) {
  * @returns {T}
  */
 export function pop(component) {
-	const context_stack_item = component_context;
-	if (context_stack_item !== null) {
-		if (component !== undefined) {
-			context_stack_item.x = component;
-		}
-		const component_effects = context_stack_item.e;
-		if (component_effects !== null) {
-			var previous_effect = active_effect;
-			var previous_reaction = active_reaction;
-			context_stack_item.e = null;
-			try {
-				for (var i = 0; i < component_effects.length; i++) {
-					var component_effect = component_effects[i];
-					set_active_effect(component_effect.effect);
-					set_active_reaction(component_effect.reaction);
-					create_user_effect(component_effect.fn);
-				}
-			} finally {
-				set_active_effect(previous_effect);
-				set_active_reaction(previous_reaction);
-			}
-		}
-		component_context = context_stack_item.p;
-		if (DEV) {
-			dev_current_component_function = context_stack_item.p?.function ?? null;
+	var context = /** @type {ComponentContext} */ (component_context);
+	var effects = context.e;
+
+	if (effects !== null) {
+		context.e = null;
+
+		for (var effect of effects) {
+			create_user_effect(effect.fn);
 		}
-		context_stack_item.m = true;
 	}
-	// Micro-optimization: Don't set .a above to the empty object
-	// so it can be garbage-collected when the return here is unused
-	return component || /** @type {T} */ ({});
+
+	if (component !== undefined) {
+		context.x = component;
+	}
+
+	context.m = true;
+
+	component_context = context.p;
+
+	if (DEV) {
+		dev_current_component_function = context.p?.function ?? null;
+	}
+
+	return component ?? /** @type {T} */ ({});
 }
 
 /** @returns {boolean} */
diff --git a/packages/svelte/src/internal/client/reactivity/effects.js b/packages/svelte/src/internal/client/reactivity/effects.js
index 92065f44d0..f5d0d76aa8 100644
--- a/packages/svelte/src/internal/client/reactivity/effects.js
+++ b/packages/svelte/src/internal/client/reactivity/effects.js
@@ -186,6 +186,7 @@ export function user_effect(fn) {
 	// Non-nested `$effect(...)` in a component should be deferred
 	// until the component is mounted
 	var defer =
+		active_reaction === null &&
 		active_effect !== null &&
 		(active_effect.f & BRANCH_EFFECT) !== 0 &&
 		component_context !== null &&