diff --git a/CHANGELOG.md b/CHANGELOG.md
index bacbedec7033..56c5c0ebefb2 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -38,6 +38,10 @@ Ref: https://keepachangelog.com/en/1.0.0/
 
 ## [Unreleased]
 
+### Improvements
+
+* (store) [#15683](https://github.com/cosmos/cosmos-sdk/pull/15683) `rootmulti.Store.CacheMultiStoreWithVersion` now can handle loading archival states that don't persist any of the module stores the current state has.
+
 ### Bug Fixes
 
 * (store/iavl) [#15717](https://github.com/cosmos/cosmos-sdk/pull/15717) Upstream error on empty version (this change was present on all version but v0.46).
diff --git a/store/rootmulti/store.go b/store/rootmulti/store.go
index fae4f1d88938..c0bf40f24363 100644
--- a/store/rootmulti/store.go
+++ b/store/rootmulti/store.go
@@ -571,9 +571,30 @@ func (rs *Store) CacheMultiStoreWithVersion(version int64) (types.CacheMultiStor
 			// version does not exist or is pruned, an error should be returned.
 			var err error
 			cacheStore, err = store.(*iavl.Store).GetImmutable(version)
+			// if we got error from loading a module store
+			// we fetch commit info of this version
+			// we use commit info to check if the store existed at this version or not
 			if err != nil {
-				return nil, err
+				if commitInfo == nil {
+					var errCommitInfo error
+					commitInfo, errCommitInfo = getCommitInfo(rs.db, version)
+
+					if errCommitInfo != nil {
+						return nil, errCommitInfo
+					}
+
+					for _, storeInfo := range commitInfo.StoreInfos {
+						storeInfos[storeInfo.Name] = true
+					}
+				}
+
+				// If the store existed at this version, it means there's actually an error
+				// getting the root store at this version.
+				if storeInfos[key.Name()] {
+					return nil, err
+				}
 			}
+
 		default:
 			cacheStore = store
 		}
diff --git a/store/rootmulti/store_test.go b/store/rootmulti/store_test.go
index 2b5deafcc0a5..2719df5b852a 100644
--- a/store/rootmulti/store_test.go
+++ b/store/rootmulti/store_test.go
@@ -101,19 +101,16 @@ func TestCacheMultiStoreWithVersion(t *testing.T) {
 	require.Equal(t, kvStore.Get(k), v)
 
 	// add new module stores (store4 and store5) to multi stores and commit
-	key4, key5 := types.NewKVStoreKey("store4"), types.NewKVStoreKey("store5")
-	ms.MountStoreWithDB(key4, types.StoreTypeIAVL, nil)
-	ms.MountStoreWithDB(key5, types.StoreTypeIAVL, nil)
+	ms.MountStoreWithDB(types.NewKVStoreKey("store4"), types.StoreTypeIAVL, nil)
+	ms.MountStoreWithDB(types.NewKVStoreKey("store5"), types.StoreTypeIAVL, nil)
 	err = ms.LoadLatestVersionAndUpgrade(&types.StoreUpgrades{Added: []string{"store4", "store5"}})
 	require.NoError(t, err)
 	ms.Commit()
 
 	// cache multistore of version before adding store4 should works
-	cms2, err := ms.CacheMultiStoreWithVersion(1)
+	_, err = ms.CacheMultiStoreWithVersion(1)
 	require.NoError(t, err)
 
-	require.Empty(t, cms2.GetKVStore(key4).Get([]byte("key")))
-
 	// require we cannot commit (write) to a cache-versioned multi-store
 	require.Panics(t, func() {
 		kvStore.Set(k, []byte("newValue"))