diff --git a/src/ZoneTree/PresetTypes/TTLValue.cs b/src/ZoneTree/PresetTypes/TTLValue.cs
index 2c86e81..85f0934 100644
--- a/src/ZoneTree/PresetTypes/TTLValue.cs
+++ b/src/ZoneTree/PresetTypes/TTLValue.cs
@@ -25,8 +25,7 @@ public override bool Equals(object obj)
     public bool Equals(TTLValue<TValue> other)
     {
         return EqualityComparer<TValue>.Default.Equals(Value, other.Value) &&
-               Expiration == other.Expiration &&
-               IsExpired == other.IsExpired;
+               Expiration == other.Expiration;
     }
 
     public void Expire()
@@ -36,7 +35,10 @@ public void Expire()
 
     public override int GetHashCode()
     {
-        return HashCode.Combine(Value, Expiration, IsExpired);
+        // IsExpired depends on the current time. Including it in the
+        // hash code would cause different hashes for the same value
+        // depending on when GetHashCode is called.
+        return HashCode.Combine(Value, Expiration);
     }
 
     public bool SlideExpiration(TimeSpan timeSpan)