diff --git a/CHANGELOG.md b/CHANGELOG.md
index f699acc9d5..3c59bf715d 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,9 @@
 
 ## Unreleased
 
+### Features
+- DebugStackTrace no longer creates a stack trace for dynamic methods, which should result in slightly better performance when capturing errors ([#4954](https://github.com/getsentry/sentry-dotnet/pull/4954))
+
 ### Fixes
 
 - The SDK now logs a `Warning` instead of an `Error` when being ratelimited ([#4927](https://github.com/getsentry/sentry-dotnet/pull/4927))
diff --git a/src/Sentry/Internal/DebugStackTrace.cs b/src/Sentry/Internal/DebugStackTrace.cs
index 6ad3c94320..b4f358a463 100644
--- a/src/Sentry/Internal/DebugStackTrace.cs
+++ b/src/Sentry/Internal/DebugStackTrace.cs
@@ -532,14 +532,18 @@ private static void DemangleLambdaReturnType(SentryStackFrame frame)
                 return reader.Invoke(assemblyName);
             }
 
-            var assembly = options.FileSystem.OpenFileForReading(assemblyName);
-            return new PEReader(assembly);
+            if (options.FileSystem.FileExists(assemblyName))
+            {
+                var assembly = options.FileSystem.OpenFileForReading(assemblyName);
+                return new PEReader(assembly);
+            }
         }
-        catch (Exception)
+        catch
         {
-            assemblyName = null;
-            return null;
+            // Swallow and return null below
         }
+        assemblyName = null;
+        return null;
     }
 
     private int? AddManagedModuleDebugImage(Module module)