diff --git a/CHANGELOG.md b/CHANGELOG.md
index 1e866146..786df86f 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -14,7 +14,7 @@ _Note: Gaps between patch versions are faulty, broken or test releases._
 
 * **Bug Fix**
   * Fix tooltip styling in dark mode when using CSS Modules ([#688](https://github.com/webpack/webpack-bundle-analyzer/pull/688) by [@theEquinoxDev](https://github.com/theEquinoxDev))
-
+  * Avoid parse failures for bundles with IIFE ([#685](https://github.com/webpack/webpack-bundle-analyzer/pull/685) by [@hai-x](https://github.com/hai-x))
 
 ## 5.1.0
 
diff --git a/src/parseUtils.js b/src/parseUtils.js
index bdfd71bb..ead50de2 100644
--- a/src/parseUtils.js
+++ b/src/parseUtils.js
@@ -53,7 +53,7 @@ function parseBundle(bundlePath, opts) {
 
             if (firstVariableDeclaration) {
               for (const declaration of firstVariableDeclaration.declarations) {
-                if (declaration.init) {
+                if (declaration.init && isModulesList(declaration.init)) {
                   state.locations = getModulesLocations(declaration.init);
 
                   if (state.locations) {
diff --git a/test/bundles/validBundleWithIIFE.js b/test/bundles/validBundleWithIIFE.js
new file mode 100644
index 00000000..0ac4bd51
--- /dev/null
+++ b/test/bundles/validBundleWithIIFE.js
@@ -0,0 +1 @@
+(()=>{const e=console.log("foo");})();
diff --git a/test/bundles/validBundleWithIIFE.modules.json b/test/bundles/validBundleWithIIFE.modules.json
new file mode 100644
index 00000000..ffce6828
--- /dev/null
+++ b/test/bundles/validBundleWithIIFE.modules.json
@@ -0,0 +1,3 @@
+{
+  "modules": {}
+}