diff --git a/packages/core/integration-tests/test/integration/svg-multiple/circle.svg b/packages/core/integration-tests/test/integration/svg-multiple/circle.svg
new file mode 100644
index 00000000000..312b4137553
--- /dev/null
+++ b/packages/core/integration-tests/test/integration/svg-multiple/circle.svg
@@ -0,0 +1,3 @@
+<svg viewBox="0 0 30 10" xmlns="http://www.w3.org/2000/svg">
+  <circle cx="5" cy="5" r="4"/>
+</svg>
diff --git a/packages/core/integration-tests/test/integration/svg-multiple/index.js b/packages/core/integration-tests/test/integration/svg-multiple/index.js
new file mode 100644
index 00000000000..da16cc9827c
--- /dev/null
+++ b/packages/core/integration-tests/test/integration/svg-multiple/index.js
@@ -0,0 +1,2 @@
+import "./circle.svg";
+import "./square.svg";
diff --git a/packages/core/integration-tests/test/integration/svg-multiple/square.svg b/packages/core/integration-tests/test/integration/svg-multiple/square.svg
new file mode 100644
index 00000000000..1fbcd5a72d0
--- /dev/null
+++ b/packages/core/integration-tests/test/integration/svg-multiple/square.svg
@@ -0,0 +1,3 @@
+<svg viewBox="0 0 30 10" xmlns="http://www.w3.org/2000/svg">
+  <rect id="square" height="10" width="10"/>
+</svg>
diff --git a/packages/core/integration-tests/test/svg.js b/packages/core/integration-tests/test/svg.js
index 1207e6256a7..308e88c4995 100644
--- a/packages/core/integration-tests/test/svg.js
+++ b/packages/core/integration-tests/test/svg.js
@@ -191,4 +191,22 @@ describe('svg', function() {
 
     assert(svg.includes('<style>:root{fill:red}</style>'));
   });
+
+  it('should be in separate bundles', async function() {
+    const b = await bundle(
+      path.join(__dirname, '/integration/svg-multiple/index.js'),
+    );
+
+    assertBundles(b, [
+      {
+        assets: ['index.js', 'bundle-url.js'],
+      },
+      {
+        assets: ['circle.svg'],
+      },
+      {
+        assets: ['square.svg'],
+      },
+    ]);
+  });
 });
diff --git a/packages/transformers/svg-react/src/SvgReactTransformer.js b/packages/transformers/svg-react/src/SvgReactTransformer.js
index ceb4a8680a7..bab1c950387 100644
--- a/packages/transformers/svg-react/src/SvgReactTransformer.js
+++ b/packages/transformers/svg-react/src/SvgReactTransformer.js
@@ -34,6 +34,7 @@ export default (new Transformer({
     );
 
     asset.type = 'jsx';
+    asset.bundleBehavior = null;
     asset.setCode(jsx);
 
     return [asset];
diff --git a/packages/transformers/svg/src/SVGTransformer.js b/packages/transformers/svg/src/SVGTransformer.js
index b6d3be9a8d5..21667f797de 100644
--- a/packages/transformers/svg/src/SVGTransformer.js
+++ b/packages/transformers/svg/src/SVGTransformer.js
@@ -32,6 +32,8 @@ export default (new Transformer({
   },
 
   async transform({asset}) {
+    asset.bundleBehavior = 'isolated';
+
     const ast = nullthrows(await asset.getAST());
 
     collectDependencies(asset, ast);