diff --git a/composables/useEulerAccount.ts b/composables/useEulerAccount.ts
index ca024f8d1..6edb1d48e 100644
--- a/composables/useEulerAccount.ts
+++ b/composables/useEulerAccount.ts
@@ -28,6 +28,10 @@ const isPositionsLoaded = ref(false)
 const isDepositsLoading = ref(true)
 const isDepositsLoaded = ref(false)
 const isShowAllPositions = ref(false)
+// True when the most recent portfolio fetch threw, as opposed to succeeding
+// with partial per-asset pricing issues. Surfaced to the UI so a failed load
+// renders an error state instead of formatted zeros — see `hasPortfolioLoadError`.
+const hasPositionsFetchError = ref(false)
 
 // Transparent layer overlay: when a non-zero batch layer is active, the
 // simulated portfolio is served for both the visible and all-positions views,
@@ -101,6 +105,7 @@ export const useEulerAccount = () => {
     visiblePortfolio.value = undefined
     allPortfolio.value = undefined
     portfolioDiagnostics.value = []
+    hasPositionsFetchError.value = false
     isPositionsLoaded.value = false
     isPositionsLoading.value = true
     isDepositsLoaded.value = false
@@ -125,6 +130,7 @@ export const useEulerAccount = () => {
         visiblePortfolio.value = undefined
         allPortfolio.value = undefined
         portfolioDiagnostics.value = []
+        hasPositionsFetchError.value = false
         markLoaded()
         return
       }
@@ -157,11 +163,13 @@ export const useEulerAccount = () => {
       allPortfolio.value = nextAllPortfolio
       visiblePortfolio.value = nextVisiblePortfolio
       portfolioDiagnostics.value = fetched.errors
+      hasPositionsFetchError.value = false
       markLoaded()
     }
     catch (error) {
       if (positionGuard.isStale(gen)) return
       logWarn('useEulerAccount/fetchAndUpdatePortfolio', error)
+      hasPositionsFetchError.value = true
       portfolioDiagnostics.value = [{
         code: 'SOURCE_UNAVAILABLE',
         severity: 'error',
@@ -227,6 +235,12 @@ export const useEulerAccount = () => {
   startWatchers()
   onScopeDispose(releaseWatchers)
 
+  // A portfolio fetch failed AND we have no (stale) portfolio to fall back on.
+  // Gating on the absence of data means a transient background-refresh failure
+  // keeps the last-good figures on screen, while a genuine cold-load failure
+  // lets the UI show an error instead of misleading $0.00 totals.
+  const hasPortfolioLoadError = computed(() => hasPositionsFetchError.value && !portfolio.value)
+
   const portfolioRoe = computed(() => portfolio.value?.roe ?? 0)
   const portfolioNetApy = computed(() => portfolio.value?.netApy ?? 0)
   const totalSuppliedValue = computed(() => usdWadToNumber(portfolio.value?.totalSuppliedValueUsd))
@@ -276,6 +290,7 @@ export const useEulerAccount = () => {
   return {
     portfolio,
     portfolioDiagnostics,
+    hasPortfolioLoadError,
     borrowPositions,
     depositPositions,
     removedBorrowPositions,
diff --git a/pages/portfolio.vue b/pages/portfolio.vue
index ad0eee945..1c76e84d3 100644
--- a/pages/portfolio.vue
+++ b/pages/portfolio.vue
@@ -20,6 +20,7 @@ const {
   isPositionsLoaded,
   isShowAllPositions,
   refreshAllPositions,
+  hasPortfolioLoadError,
 } = useEulerAccount()
 const { refresh: refreshFreshAccount } = useFreshAccount()
 const { rewards } = useSdkRewards()
@@ -134,17 +135,23 @@ watch([() => route.name, showMigrationTab, hasMigrationLoaded, isMigrationLoadin
 })
 
 const portfolioNetApyDisplay = computed(() =>
-  Number.isFinite(portfolioNetApy.value) ? `${formatNumber(portfolioNetApy.value)}%` : '-',
+  !hasPortfolioLoadError.value && Number.isFinite(portfolioNetApy.value)
+    ? `${formatNumber(portfolioNetApy.value)}%`
+    : '-',
 )
 const portfolioRoeDisplay = computed(() =>
-  Number.isFinite(portfolioRoe.value) ? `${formatNumber(portfolioRoe.value)}%` : '-',
+  !hasPortfolioLoadError.value && Number.isFinite(portfolioRoe.value)
+    ? `${formatNumber(portfolioRoe.value)}%`
+    : '-',
 )
 const totalSuppliedDisplay = computed(() => {
+  if (hasPortfolioLoadError.value) return '—'
   const { total, hasMissingPrices } = totalSuppliedValueInfo.value
   if (total === 0 && hasMissingPrices) return '—'
   return formatCompactUsdValue(total)
 })
 const totalBorrowedDisplay = computed(() => {
+  if (hasPortfolioLoadError.value) return '—'
   const { total, hasMissingPrices } = totalBorrowedValueInfo.value
   if (total === 0 && hasMissingPrices) return '—'
   return formatCompactUsdValue(total)
@@ -153,6 +160,7 @@ const netAssetValueInfo = computed(() => {
   return netAssetMarketValueInfo.value
 })
 const netAssetValueDisplay = computed(() => {
+  if (hasPortfolioLoadError.value) return '—'
   const { total, hasMissingPrices } = netAssetValueInfo.value
   if (total === 0 && hasMissingPrices) return '—'
   return formatCompactUsdValue(total)
@@ -173,6 +181,10 @@ const updatePositions = async (
   })
 }
 
+const retryPortfolioLoad = () => {
+  void updatePositions({ portfolioSource: 'fresh', preemptPortfolio: true })
+}
+
 onActivated(async () => {
   await updateBalances()
   updatePositions()
@@ -218,6 +230,26 @@ watch(showAllLabelEntries, (showAll) => {
 
     <PortfolioRampingBanner />
 
+    <div
+      v-if="hasPortfolioLoadError"
+      class="flex items-center gap-8 rounded-12 p-12 mx-16 bg-error-100"
+    >
+      <SvgIcon
+        name="warning"
+        class="!w-20 !h-20 text-error-500 shrink-0"
+      />
+      <span class="text-p4 flex-1 text-error-500">
+        We couldn't load your portfolio. Your funds are safe on-chain — this is usually temporary.
+      </span>
+      <button
+        type="button"
+        class="shrink-0 text-p4 font-medium text-error-500 hover:text-error-500/70 transition-colors"
+        @click="retryPortfolioLoad"
+      >
+        Retry
+      </button>
+    </div>
+
     <div class="flex flex-col gap-16 mx-16 laptop:flex-row laptop:items-stretch">
       <div class="flex flex-col gap-16 p-16 rounded-12 border border-line-default bg-card shadow-card laptop:flex-1">
         <div class="text-h4 text-content-primary">
@@ -240,7 +272,7 @@ watch(showAllLabelEntries, (showAll) => {
               data-id="data-point"
               :data-key="spyAddress || address"
               data-field="portfolio-net-apy"
-              :data-value="Number.isFinite(portfolioNetApy) ? portfolioNetApy : '-'"
+              :data-value="hasPortfolioLoadError ? '-' : (Number.isFinite(portfolioNetApy) ? portfolioNetApy : '-')"
             >
               {{ portfolioNetApyDisplay }}
             </div>
@@ -263,7 +295,7 @@ watch(showAllLabelEntries, (showAll) => {
               data-id="data-point"
               :data-key="spyAddress || address"
               data-field="portfolio-roe"
-              :data-value="Number.isFinite(portfolioRoe) ? portfolioRoe : '-'"
+              :data-value="hasPortfolioLoadError ? '-' : (Number.isFinite(portfolioRoe) ? portfolioRoe : '-')"
             >
               {{ portfolioRoeDisplay }}
             </div>
@@ -291,7 +323,7 @@ watch(showAllLabelEntries, (showAll) => {
               data-id="data-point"
               :data-key="spyAddress || address"
               data-field="portfolio-total-supplied"
-              :data-value="totalSuppliedValueInfo.hasMissingPrices ? totalSuppliedDisplay : totalSuppliedValueInfo.total"
+              :data-value="hasPortfolioLoadError ? '—' : (totalSuppliedValueInfo.hasMissingPrices ? totalSuppliedDisplay : totalSuppliedValueInfo.total)"
             >
               {{ totalSuppliedDisplay }}
             </div>
@@ -314,7 +346,7 @@ watch(showAllLabelEntries, (showAll) => {
               data-id="data-point"
               :data-key="spyAddress || address"
               data-field="portfolio-total-borrowed"
-              :data-value="totalBorrowedValueInfo.hasMissingPrices ? totalBorrowedDisplay : totalBorrowedValueInfo.total"
+              :data-value="hasPortfolioLoadError ? '—' : (totalBorrowedValueInfo.hasMissingPrices ? totalBorrowedDisplay : totalBorrowedValueInfo.total)"
             >
               {{ totalBorrowedDisplay }}
             </div>
@@ -337,7 +369,7 @@ watch(showAllLabelEntries, (showAll) => {
               data-id="data-point"
               :data-key="spyAddress || address"
               data-field="portfolio-net-asset-value"
-              :data-value="netAssetValueInfo.hasMissingPrices ? netAssetValueDisplay : netAssetValueInfo.total"
+              :data-value="hasPortfolioLoadError ? '—' : (netAssetValueInfo.hasMissingPrices ? netAssetValueDisplay : netAssetValueInfo.total)"
             >
               {{ netAssetValueDisplay }}
             </div>
diff --git a/tests/composables/useEulerAccount.test.ts b/tests/composables/useEulerAccount.test.ts
index 3efdb00d9..7410baecd 100644
--- a/tests/composables/useEulerAccount.test.ts
+++ b/tests/composables/useEulerAccount.test.ts
@@ -3,32 +3,47 @@ import { effectScope, nextTick, ref, type EffectScope } from 'vue'
 
 const owner = '0x1000000000000000000000000000000000000000'
 
-const importUseEulerAccount = async () => {
+const fetchedPortfolio = {
+  account: { owner },
+  borrows: ['all-borrow'],
+  savings: ['all-saving'],
+  totalSuppliedValueUsd: 100,
+  totalBorrowedValueUsd: 25,
+  netAssetValueUsd: 75,
+  roe: 3,
+  netApy: 2,
+}
+
+const visiblePortfolio = {
+  account: { owner },
+  borrows: ['visible-borrow'],
+  savings: [],
+  totalSuppliedValueUsd: 40,
+  totalBorrowedValueUsd: 10,
+  netAssetValueUsd: 30,
+  roe: 1,
+  netApy: 0.5,
+}
+
+const portfolioResponse = () => ({
+  errors: [],
+  result: fetchedPortfolio,
+})
+
+const importUseEulerAccount = async (
+  { failFetch = false, fetchPortfolioImpl }: {
+    failFetch?: boolean
+    fetchPortfolioImpl?: () => Promise<ReturnType<typeof portfolioResponse>>
+  } = {},
+) => {
   vi.resetModules()
 
-  const fetchPortfolio = vi.fn(async () => ({
-    errors: [],
-    result: {
-      account: { owner },
-      borrows: ['all-borrow'],
-      savings: ['all-saving'],
-      totalSuppliedValueUsd: 100,
-      totalBorrowedValueUsd: 25,
-      netAssetValueUsd: 75,
-      roe: 3,
-      netApy: 2,
-    },
-  }))
-  const buildPortfolio = vi.fn(() => ({
-    account: { owner },
-    borrows: ['visible-borrow'],
-    savings: [],
-    totalSuppliedValueUsd: 40,
-    totalBorrowedValueUsd: 10,
-    netAssetValueUsd: 30,
-    roe: 1,
-    netApy: 0.5,
-  }))
+  const fetchPortfolio = vi.fn(async () => {
+    if (fetchPortfolioImpl) return fetchPortfolioImpl()
+    if (failFetch) throw new Error('portfolio source unavailable')
+    return portfolioResponse()
+  })
+  const buildPortfolio = vi.fn(() => visiblePortfolio)
   const sdk = {
     portfolioService: {
       fetchPortfolio,
@@ -122,4 +137,55 @@ describe('useEulerAccount', () => {
     expect(account?.depositPositions.value).toEqual(['all-saving'])
     expect(account?.totalSuppliedValue.value).toBe(100)
   })
+
+  it('flags a load error (rather than showing zeros) when the fetch fails with no data to fall back on', async () => {
+    const { useEulerAccount, fetchPortfolio } = await importUseEulerAccount({ failFetch: true })
+
+    let account: ReturnType<typeof useEulerAccount> | undefined
+    scope = effectScope()
+    scope.run(() => {
+      account = useEulerAccount()
+    })
+
+    await vi.waitFor(() => expect(fetchPortfolio).toHaveBeenCalled())
+    await vi.waitFor(() => expect(account?.hasPortfolioLoadError.value).toBe(true))
+
+    // No portfolio is present, so the totals are zero — the error flag is what
+    // lets the page render an error state instead of a misleading $0.00.
+    expect(account?.portfolio.value).toBeUndefined()
+    expect(account?.totalSuppliedValue.value).toBe(0)
+    expect(account?.portfolioDiagnostics.value.some(issue => issue.severity === 'error')).toBe(true)
+  })
+
+  it('keeps the load error visible until a retry confirms new data', async () => {
+    let resolveRetry: ((value: ReturnType<typeof portfolioResponse>) => void) | undefined
+    const fetchPortfolioImpl = vi.fn()
+      .mockRejectedValueOnce(new Error('portfolio source unavailable'))
+      .mockImplementationOnce(() => new Promise<ReturnType<typeof portfolioResponse>>((resolve) => {
+        resolveRetry = resolve
+      }))
+
+    const { useEulerAccount, fetchPortfolio } = await importUseEulerAccount({ fetchPortfolioImpl })
+
+    let account: ReturnType<typeof useEulerAccount> | undefined
+    scope = effectScope()
+    scope.run(() => {
+      account = useEulerAccount()
+    })
+
+    await vi.waitFor(() => expect(fetchPortfolio).toHaveBeenCalledTimes(1))
+    await vi.waitFor(() => expect(account?.hasPortfolioLoadError.value).toBe(true))
+
+    const retry = account!.refreshAllPositions(undefined, owner, { preempt: true })
+    await vi.waitFor(() => expect(fetchPortfolio).toHaveBeenCalledTimes(2))
+
+    expect(account?.portfolio.value).toBeUndefined()
+    expect(account?.hasPortfolioLoadError.value).toBe(true)
+
+    resolveRetry?.(portfolioResponse())
+    await retry
+
+    expect(account?.portfolio.value).toEqual(visiblePortfolio)
+    expect(account?.hasPortfolioLoadError.value).toBe(false)
+  })
 })