diff --git a/modules/angular2/change_detection.js b/modules/angular2/change_detection.js
index 9e62690601..e36ae08fda 100644
--- a/modules/angular2/change_detection.js
+++ b/modules/angular2/change_detection.js
@@ -23,7 +23,7 @@ export {DynamicChangeDetector} from './src/change_detection/dynamic_change_detec
 export {ChangeDetectorRef} from './src/change_detection/change_detector_ref';
 export {PipeRegistry} from './src/change_detection/pipes/pipe_registry';
 export {uninitialized} from './src/change_detection/change_detection_util';
-export {NO_CHANGE, Pipe} from './src/change_detection/pipes/pipe';
+export {WrappedValue, Pipe} from './src/change_detection/pipes/pipe';
 export {
   defaultPipes, DynamicChangeDetection, JitChangeDetection, defaultPipeRegistry
 } from './src/change_detection/change_detection';
diff --git a/modules/angular2/src/change_detection/change_detection_jit_generator.es6 b/modules/angular2/src/change_detection/change_detection_jit_generator.es6
index 07bdd8f570..88bb1f4f6e 100644
--- a/modules/angular2/src/change_detection/change_detection_jit_generator.es6
+++ b/modules/angular2/src/change_detection/change_detection_jit_generator.es6
@@ -156,7 +156,8 @@ if (${pipe} === ${UTIL}.unitialized()) {
 }
 
 ${newValue} = ${pipe}.transform(${context});
-if (! ${UTIL}.noChangeMarker(${newValue})) {
+if (${oldValue} !== ${newValue}) {
+  ${newValue} = ${UTIL}.unwrapValue(${newValue});
   ${change} = true;
   ${update}
   ${addToChanges}
diff --git a/modules/angular2/src/change_detection/change_detection_util.js b/modules/angular2/src/change_detection/change_detection_util.js
index ead901dadf..effecb7c46 100644
--- a/modules/angular2/src/change_detection/change_detection_util.js
+++ b/modules/angular2/src/change_detection/change_detection_util.js
@@ -2,7 +2,7 @@ import {isPresent, isBlank, BaseException, Type} from 'angular2/src/facade/lang'
 import {List, ListWrapper, MapWrapper, StringMapWrapper} from 'angular2/src/facade/collection';
 import {ProtoRecord} from './proto_record';
 import {ExpressionChangedAfterItHasBeenChecked} from './exceptions';
-import {NO_CHANGE} from './pipes/pipe';
+import {WrappedValue} from './pipes/pipe';
 import {CHECK_ALWAYS, CHECK_ONCE, CHECKED, DETACHED, ON_PUSH} from './constants';
 
 export var uninitialized = new Object();
@@ -109,8 +109,12 @@ export class ChangeDetectionUtil {
     return obj[args[0]];
   }
 
-  static noChangeMarker(value):boolean {
-    return value === NO_CHANGE;
+  static unwrapValue(value:any):any {
+    if (value instanceof WrappedValue) {
+      return value.wrapped;
+    } else {
+      return value;
+    }
   }
 
   static throwOnChange(proto:ProtoRecord, change) {
diff --git a/modules/angular2/src/change_detection/dynamic_change_detector.js b/modules/angular2/src/change_detection/dynamic_change_detector.js
index 301fe10605..db2ec0e8f2 100644
--- a/modules/angular2/src/change_detection/dynamic_change_detector.js
+++ b/modules/angular2/src/change_detection/dynamic_change_detector.js
@@ -233,11 +233,13 @@ export class DynamicChangeDetector extends AbstractChangeDetector {
   _pipeCheck(proto:ProtoRecord) {
     var context = this._readContext(proto);
     var pipe = this._pipeFor(proto, context);
+    var prevValue = this._readSelf(proto);
 
     var newValue = pipe.transform(context);
 
-    if (! ChangeDetectionUtil.noChangeMarker(newValue)) {
-      var prevValue = this._readSelf(proto);
+    if (!isSame(prevValue, newValue)) {
+      newValue = ChangeDetectionUtil.unwrapValue(newValue);
+
       this._writeSelf(proto, newValue);
       this._setChanged(proto, true);
 
diff --git a/modules/angular2/src/change_detection/pipes/async_pipe.js b/modules/angular2/src/change_detection/pipes/async_pipe.js
index 9f844a6790..3b0b7a9900 100644
--- a/modules/angular2/src/change_detection/pipes/async_pipe.js
+++ b/modules/angular2/src/change_detection/pipes/async_pipe.js
@@ -1,6 +1,6 @@
 import {Observable, ObservableWrapper} from 'angular2/src/facade/async';
 import {isBlank, isPresent} from 'angular2/src/facade/lang';
-import {Pipe, NO_CHANGE} from './pipe';
+import {Pipe, WrappedValue} from './pipe';
 import {ChangeDetectorRef} from '../change_detector_ref';
 
 /**
@@ -67,10 +67,10 @@ export class AsyncPipe extends Pipe {
     }
 
     if (this._latestValue === this._latestReturnedValue) {
-      return NO_CHANGE;
+      return this._latestReturnedValue;
     } else {
       this._latestReturnedValue = this._latestValue;
-      return this._latestValue;
+      return WrappedValue.wrap(this._latestValue);
     }
   }
 
diff --git a/modules/angular2/src/change_detection/pipes/iterable_changes.js b/modules/angular2/src/change_detection/pipes/iterable_changes.js
index cfc1ad2e56..e11064db4d 100644
--- a/modules/angular2/src/change_detection/pipes/iterable_changes.js
+++ b/modules/angular2/src/change_detection/pipes/iterable_changes.js
@@ -14,7 +14,7 @@ import {
   looseIdentical,
 } from 'angular2/src/facade/lang';
 
-import {NO_CHANGE, Pipe} from './pipe';
+import {WrappedValue, Pipe} from './pipe';
 
 export class IterableChangesFactory {
   supports(obj):boolean {
@@ -117,9 +117,9 @@ export class IterableChanges extends Pipe {
 
   transform(collection){
     if (this.check(collection)) {
-      return this;
+      return WrappedValue.wrap(this);
     } else {
-      return NO_CHANGE;
+      return this;
     }
   }
 
diff --git a/modules/angular2/src/change_detection/pipes/keyvalue_changes.js b/modules/angular2/src/change_detection/pipes/keyvalue_changes.js
index 9cff9b9f8e..0e314bef70 100644
--- a/modules/angular2/src/change_detection/pipes/keyvalue_changes.js
+++ b/modules/angular2/src/change_detection/pipes/keyvalue_changes.js
@@ -1,7 +1,7 @@
 import {ListWrapper, MapWrapper, StringMapWrapper} from 'angular2/src/facade/collection';
 import {stringify, looseIdentical, isJsObject} from 'angular2/src/facade/lang';
 
-import {NO_CHANGE, Pipe} from './pipe';
+import {WrappedValue, Pipe} from './pipe';
 
 /**
  * @exportedAs angular2/pipes
@@ -54,9 +54,9 @@ export class KeyValueChanges extends Pipe {
 
   transform(map){
     if (this.check(map)) {
-      return this;
+      return WrappedValue.wrap(this);
     } else {
-      return NO_CHANGE;
+      return this;
     }
   }
 
diff --git a/modules/angular2/src/change_detection/pipes/null_pipe.js b/modules/angular2/src/change_detection/pipes/null_pipe.js
index 1f78551ff6..f566957e04 100644
--- a/modules/angular2/src/change_detection/pipes/null_pipe.js
+++ b/modules/angular2/src/change_detection/pipes/null_pipe.js
@@ -1,5 +1,5 @@
 import {isBlank} from 'angular2/src/facade/lang';
-import {Pipe, NO_CHANGE} from './pipe';
+import {Pipe, WrappedValue} from './pipe';
 
 /**
  * @exportedAs angular2/pipes
@@ -35,9 +35,9 @@ export class NullPipe extends Pipe {
   transform(value) {
     if (! this.called) {
       this.called = true;
-      return null;
+      return WrappedValue.wrap(null);
     } else {
-      return NO_CHANGE;
+      return null;
     }
   }
 }
diff --git a/modules/angular2/src/change_detection/pipes/pipe.js b/modules/angular2/src/change_detection/pipes/pipe.js
index d39ee32af7..3c7d75121a 100644
--- a/modules/angular2/src/change_detection/pipes/pipe.js
+++ b/modules/angular2/src/change_detection/pipes/pipe.js
@@ -1,13 +1,33 @@
 /**
- * Indicates that the result of a {@link Pipe} transformation has not changed since the last time the pipe was called.
+ * Indicates that the result of a {@link Pipe} transformation has changed even though the reference has not changed.
  *
- * Suppose we have a pipe that computes changes in an array by performing a simple diff operation. If
- * we call this pipe with the same array twice, it will return `NO_CHANGE` the second time.
+ * The wrapped value will be unwrapped by change detection, and the unwrapped value will be stored.
  *
  * @exportedAs angular2/pipes
  */
+export class WrappedValue {
+  wrapped:any;
 
-export var NO_CHANGE = new Object();
+  constructor(wrapped:any) {
+    this.wrapped = wrapped;
+  }
+
+  static wrap(value:any):WrappedValue {
+    var w = _wrappedValues[_wrappedIndex++ % 5];
+    w.wrapped = value;
+    return w;
+  }
+}
+
+var _wrappedValues = [
+  new WrappedValue(null),
+  new WrappedValue(null),
+  new WrappedValue(null),
+  new WrappedValue(null),
+  new WrappedValue(null)
+];
+
+var _wrappedIndex = 0;
 
 /**
  * An interface for extending the list of pipes known to Angular.
diff --git a/modules/angular2/test/change_detection/change_detection_spec.js b/modules/angular2/test/change_detection/change_detection_spec.js
index 823a568088..29f393d4f2 100644
--- a/modules/angular2/test/change_detection/change_detection_spec.js
+++ b/modules/angular2/test/change_detection/change_detection_spec.js
@@ -8,7 +8,7 @@ import {Lexer} from 'angular2/src/change_detection/parser/lexer';
 import {Locals} from 'angular2/src/change_detection/parser/locals';
 
 import {ChangeDispatcher, DynamicChangeDetector, ChangeDetectionError, BindingRecord, DirectiveRecord, DirectiveIndex,
-  PipeRegistry, Pipe, NO_CHANGE, CHECK_ALWAYS, CHECK_ONCE, CHECKED, DETACHED, ON_PUSH, DEFAULT} from 'angular2/change_detection';
+  PipeRegistry, Pipe, CHECK_ALWAYS, CHECK_ONCE, CHECKED, DETACHED, ON_PUSH, DEFAULT, WrappedValue} from 'angular2/change_detection';
 
 import {JitProtoChangeDetector, DynamicProtoChangeDetector} from 'angular2/src/change_detection/proto_change_detector';
 
@@ -733,7 +733,7 @@ export function main() {
           });
         });
 
-        it("should do nothing when returns NO_CHANGE", () => {
+        it("should do nothing when no change", () => {
           var registry = new FakePipeRegistry('pipe', () => new IdentityPipe())
           var ctx = new Person("Megatron");
 
@@ -741,16 +741,27 @@ export function main() {
           var cd = c["changeDetector"];
           var dispatcher = c["dispatcher"];
 
-          cd.detectChanges();
           cd.detectChanges();
 
           expect(dispatcher.log).toEqual(['memo=Megatron']);
 
-          ctx.name = "Optimus Prime";
           dispatcher.clear();
           cd.detectChanges();
 
-          expect(dispatcher.log).toEqual(['memo=Optimus Prime']);
+          expect(dispatcher.log).toEqual([]);
+        });
+
+        it("should unwrap the wrapped value", () => {
+          var registry = new FakePipeRegistry('pipe', () => new WrappedPipe())
+          var ctx = new Person("Megatron");
+
+          var c  = createChangeDetector("memo", "name | pipe", ctx, null, registry);
+          var cd = c["changeDetector"];
+          var dispatcher = c["dispatcher"];
+
+          cd.detectChanges();
+
+          expect(dispatcher.log).toEqual(['memo=Megatron']);
         });
       });
   });
@@ -798,19 +809,14 @@ class OncePipe extends Pipe {
 }
 
 class IdentityPipe extends Pipe {
-  state:any;
-
-  supports(newValue) {
-    return true;
-  }
-
   transform(value) {
-    if (this.state === value) {
-      return NO_CHANGE;
-    } else {
-      this.state = value;
-      return value;
-    }
+    return value;
+  }
+}
+
+class WrappedPipe extends Pipe {
+  transform(value) {
+    return WrappedValue.wrap(value);
   }
 }
 
diff --git a/modules/angular2/test/change_detection/pipes/async_pipe_spec.js b/modules/angular2/test/change_detection/pipes/async_pipe_spec.js
index 218ce31e27..7a73b19099 100644
--- a/modules/angular2/test/change_detection/pipes/async_pipe_spec.js
+++ b/modules/angular2/test/change_detection/pipes/async_pipe_spec.js
@@ -2,8 +2,8 @@ import {ddescribe, describe, it, iit, xit, expect, beforeEach, afterEach,
   AsyncTestCompleter, inject, proxy, SpyObject} from 'angular2/test_lib';
 import {IMPLEMENTS} from 'angular2/src/facade/lang';
 
+import {WrappedValue} from 'angular2/src/change_detection/pipes/pipe';
 import {AsyncPipe} from 'angular2/src/change_detection/pipes/async_pipe';
-import {NO_CHANGE} from 'angular2/src/change_detection/pipes/pipe';
 import {ChangeDetectorRef} from 'angular2/src/change_detection/change_detector_ref';
 import {EventEmitter, Observable, ObservableWrapper, PromiseWrapper} from 'angular2/src/facade/async';
 
@@ -36,25 +36,25 @@ export function main() {
         expect(pipe.transform(emitter)).toBe(null);
       });
 
-      it("should return the latest available value", inject([AsyncTestCompleter], (async) => {
+      it("should return the latest available value wrapped", inject([AsyncTestCompleter], (async) => {
         pipe.transform(emitter);
 
         ObservableWrapper.callNext(emitter, message);
 
         PromiseWrapper.setTimeout(() => {
-          expect(pipe.transform(emitter)).toEqual(message);
+          expect(pipe.transform(emitter)).toEqual(new WrappedValue(message));
           async.done();
         }, 0)
       }));
 
-      it("should return NO_CHANGE when nothing has changed since the last call",
+      it("should return same value when nothing has changed since the last call",
           inject([AsyncTestCompleter], (async) => {
         pipe.transform(emitter);
         ObservableWrapper.callNext(emitter, message);
 
         PromiseWrapper.setTimeout(() => {
           pipe.transform(emitter);
-          expect(pipe.transform(emitter)).toBe(NO_CHANGE);
+          expect(pipe.transform(emitter)).toBe(message);
           async.done();
         }, 0)
       }));
@@ -66,11 +66,11 @@ export function main() {
         var newEmitter = new EventEmitter();
         expect(pipe.transform(newEmitter)).toBe(null);
 
-        // this should not affect the pipe, so it should return NO_CHANGE
+        // this should not affect the pipe
         ObservableWrapper.callNext(emitter, message);
 
         PromiseWrapper.setTimeout(() => {
-          expect(pipe.transform(newEmitter)).toBe(NO_CHANGE);
+          expect(pipe.transform(newEmitter)).toBe(null);
           async.done();
         }, 0)
       }));