diff --git a/fish-rust/src/expand.rs b/fish-rust/src/expand.rs
index 7359899d3..60c8aba5b 100644
--- a/fish-rust/src/expand.rs
+++ b/fish-rust/src/expand.rs
@@ -307,6 +307,11 @@ pub fn replace_home_directory_with_tilde(s: &wstr, vars: &dyn Environment) -> WS
     if result.starts_with("/"L) {
         let mut home_directory = "~"L.to_owned();
         expand_tilde(&mut home_directory, vars);
+        // If we can't get a home directory, don't replace anything.
+        // This is the case e.g. with --no-execute
+        if home_directory.is_empty() {
+            return result;
+        }
         if !home_directory.ends_with("/"L) {
             home_directory.push('/');
         }
diff --git a/tests/checks/no-execute.fish b/tests/checks/no-execute.fish
index 93241c58a..1e5f54e01 100644
--- a/tests/checks/no-execute.fish
+++ b/tests/checks/no-execute.fish
@@ -23,5 +23,14 @@ echo "begin; echo oops" | $fish -n
 echo $status
 #CHECK: 127
 
+echo "begin" > broken
+$fish -n $PWD/broken
+#CHECKERR: /{{.*}}broken (line 1): Missing end to balance this begin
+#CHECKERR: begin
+#CHECKERR: ^~~~^
+#CHECKERR: warning: Error while reading file /{{.*}}broken
+
+rm broken
+
 # Littlecheck assumes a status of 127 means the shebang was invalid.
 exit 0