diff --git a/django/core/management/commands/loaddata.py b/django/core/management/commands/loaddata.py
index f44edf7..078fd6f 100644
--- a/django/core/management/commands/loaddata.py
+++ b/django/core/management/commands/loaddata.py
@@ -7,7 +7,7 @@ import traceback
 
 from django.conf import settings
 from django.core import serializers
-from django.core.management.base import BaseCommand
+from django.core.management.base import BaseCommand, CommandError
 from django.core.management.color import no_style
 from django.db import (connections, router, transaction, DEFAULT_DB_ALIAS,
       IntegrityError, DatabaseError)
@@ -36,11 +36,10 @@ class Command(BaseCommand):
         connection = connections[using]
 
         if not len(fixture_labels):
-            self.stderr.write(
+            raise CommandError(
                 "No database fixture specified. Please provide the path of at "
                 "least one fixture in the command line."
             )
-            return
 
         verbosity = int(options.get('verbosity'))
         show_traceback = options.get('traceback')
@@ -126,13 +125,9 @@ class Command(BaseCommand):
                         if verbosity >= 2:
                             self.stdout.write("Loading '%s' fixtures..." % fixture_name)
                     else:
-                        self.stderr.write(
+                        raise CommandError(
                             "Problem installing fixture '%s': %s is not a known serialization format." %
                                 (fixture_name, format))
-                        if commit:
-                            transaction.rollback(using=using)
-                            transaction.leave_transaction_management(using=using)
-                        return
 
                     if os.path.isabs(fixture_name):
                         fixture_dirs = [fixture_name]
@@ -167,12 +162,8 @@ class Command(BaseCommand):
                             else:
                                 try:
                                     if label_found:
-                                        self.stderr.write("Multiple fixtures named '%s' in %s. Aborting." %
+                                        raise CommandError("Multiple fixtures named '%s' in %s. Aborting." %
                                             (fixture_name, humanize(fixture_dir)))
-                                        if commit:
-                                            transaction.rollback(using=using)
-                                            transaction.leave_transaction_management(using=using)
-                                        return
 
                                     fixture_count += 1
                                     objects_in_fixture = 0
@@ -191,13 +182,13 @@ class Command(BaseCommand):
                                             try:
                                                 obj.save(using=using)
                                             except (DatabaseError, IntegrityError) as e:
-                                                msg = "Could not load %(app_label)s.%(object_name)s(pk=%(pk)s): %(error_msg)s" % {
+                                                e.args = ("Could not load %(app_label)s.%(object_name)s(pk=%(pk)s): %(error_msg)s" % {
                                                         'app_label': obj.object._meta.app_label,
                                                         'object_name': obj.object._meta.object_name,
                                                         'pk': obj.object.pk,
                                                         'error_msg': e
-                                                    }
-                                                raise e.__class__, e.__class__(msg), sys.exc_info()[2]
+                                                    },)
+                                                raise
 
                                     loaded_object_count += loaded_objects_in_fixture
                                     fixture_object_count += objects_in_fixture
@@ -208,13 +199,9 @@ class Command(BaseCommand):
                                 # If the fixture we loaded contains 0 objects, assume that an
                                 # error was encountered during fixture loading.
                                 if objects_in_fixture == 0:
-                                    self.stderr.write(
+                                    raise CommandError(
                                         "No fixture data found for '%s'. (File format may be invalid.)" %
                                             (fixture_name))
-                                    if commit:
-                                        transaction.rollback(using=using)
-                                        transaction.leave_transaction_management(using=using)
-                                    return
 
             # Since we disabled constraint checks, we must manually check for
             # any invalid keys that might have been added
@@ -223,19 +210,13 @@ class Command(BaseCommand):
 
         except (SystemExit, KeyboardInterrupt):
             raise
-        except Exception:
+        except Exception as e:
             if commit:
                 transaction.rollback(using=using)
                 transaction.leave_transaction_management(using=using)
-            if show_traceback:
-                traceback.print_exc()
-            else:
-                self.stderr.write(
-                    "Problem installing fixture '%s': %s" %
-                         (full_path, ''.join(traceback.format_exception(sys.exc_type,
-                             sys.exc_value, sys.exc_traceback))))
-            return
-
+            if not isinstance(e, CommandError):
+                e.args = ("Problem installing fixture '%s': %s" % (full_path, e),)
+            raise
 
         # If we found even one object in a fixture, we need to reset the
         # database sequences.
diff --git a/tests/modeltests/fixtures/tests.py b/tests/modeltests/fixtures/tests.py
index 478bbe9..f5176da 100644
--- a/tests/modeltests/fixtures/tests.py
+++ b/tests/modeltests/fixtures/tests.py
@@ -4,7 +4,7 @@ import StringIO
 
 from django.contrib.sites.models import Site
 from django.core import management
-from django.db import connection
+from django.db import connection, IntegrityError
 from django.test import TestCase, TransactionTestCase, skipUnlessDBFeature
 
 from .models import Article, Book, Spy, Tag, Visa
@@ -232,11 +232,9 @@ class FixtureLoadingTests(TestCase):
 
     def test_ambiguous_compressed_fixture(self):
         # The name "fixture5" is ambigous, so loading it will raise an error
-        new_io = StringIO.StringIO()
-        management.call_command('loaddata', 'fixture5', verbosity=0, stderr=new_io, commit=False)
-        output = new_io.getvalue().strip().split('\n')
-        self.assertEqual(len(output), 1)
-        self.assertTrue(output[0].startswith("Multiple fixtures named 'fixture5'"))
+        with self.assertRaisesRegexp(management.CommandError,
+                "Multiple fixtures named 'fixture5'"):
+            management.call_command('loaddata', 'fixture5', verbosity=0, commit=False)
 
     def test_db_loading(self):
         # Load db fixtures 1 and 2. These will load using the 'default' database identifier implicitly
@@ -258,10 +256,9 @@ class FixtureLoadingTests(TestCase):
         # is closed at the end of each test.
         if connection.vendor == 'mysql':
             connection.cursor().execute("SET sql_mode = 'TRADITIONAL'")
-        new_io = StringIO.StringIO()
-        management.call_command('loaddata', 'invalid.json', verbosity=0, stderr=new_io, commit=False)
-        output = new_io.getvalue().strip().split('\n')
-        self.assertRegexpMatches(output[-1], "Error: Could not load fixtures.Article\(pk=1\): .*$")
+        with self.assertRaisesRegexp(IntegrityError,
+                "Could not load fixtures.Article\(pk=1\): .*$"):
+            management.call_command('loaddata', 'invalid.json', verbosity=0, commit=False)
 
     def test_loading_using(self):
         # Load db fixtures 1 and 2. These will load using the 'default' database identifier explicitly
@@ -316,11 +313,9 @@ class FixtureTransactionTests(TransactionTestCase):
 
         # Try to load fixture 2 using format discovery; this will fail
         # because there are two fixture2's in the fixtures directory
-        new_io = StringIO.StringIO()
-        management.call_command('loaddata', 'fixture2', verbosity=0, stderr=new_io)
-        output = new_io.getvalue().strip().split('\n')
-        self.assertEqual(len(output), 1)
-        self.assertTrue(output[0].startswith("Multiple fixtures named 'fixture2'"))
+        with self.assertRaisesRegexp(management.CommandError,
+                "Multiple fixtures named 'fixture2'"):
+            management.call_command('loaddata', 'fixture2', verbosity=0)
 
         # object list is unaffected
         self.assertQuerysetEqual(Article.objects.all(), [
diff --git a/tests/regressiontests/fixtures_regress/tests.py b/tests/regressiontests/fixtures_regress/tests.py
index 0e2cc3a..c0b811b 100644
--- a/tests/regressiontests/fixtures_regress/tests.py
+++ b/tests/regressiontests/fixtures_regress/tests.py
@@ -9,7 +9,7 @@ from io import BytesIO
 from django.core import management
 from django.core.management.base import CommandError
 from django.core.management.commands.dumpdata import sort_dependencies
-from django.db import transaction
+from django.db import transaction, IntegrityError
 from django.db.models import signals
 from django.test import (TestCase, TransactionTestCase, skipIfDBFeature,
     skipUnlessDBFeature)
@@ -116,18 +116,15 @@ class TestFixtures(TestCase):
         Test for ticket #4371 -- Loading data of an unknown format should fail
         Validate that error conditions are caught correctly
         """
-        stderr = BytesIO()
-        management.call_command(
-            'loaddata',
-            'bad_fixture1.unkn',
-            verbosity=0,
-            commit=False,
-            stderr=stderr,
-        )
-        self.assertEqual(
-            stderr.getvalue(),
-            "Problem installing fixture 'bad_fixture1': unkn is not a known serialization format.\n"
-        )
+        with self.assertRaisesRegexp(management.CommandError,
+                "Problem installing fixture 'bad_fixture1': "
+                "unkn is not a known serialization format."):
+            management.call_command(
+                'loaddata',
+                'bad_fixture1.unkn',
+                verbosity=0,
+                commit=False,
+            )
 
     def test_invalid_data(self):
         """
@@ -135,18 +132,14 @@ class TestFixtures(TestCase):
         using explicit filename.
         Validate that error conditions are caught correctly
         """
-        stderr = BytesIO()
-        management.call_command(
-            'loaddata',
-            'bad_fixture2.xml',
-            verbosity=0,
-            commit=False,
-            stderr=stderr,
-        )
-        self.assertEqual(
-            stderr.getvalue(),
-            "No fixture data found for 'bad_fixture2'. (File format may be invalid.)\n"
-        )
+        with self.assertRaisesRegexp(management.CommandError,
+                "No fixture data found for 'bad_fixture2'. \(File format may be invalid.\)"):
+            management.call_command(
+                'loaddata',
+                'bad_fixture2.xml',
+                verbosity=0,
+                commit=False,
+            )
 
     def test_invalid_data_no_ext(self):
         """
@@ -154,54 +147,42 @@ class TestFixtures(TestCase):
         without file extension.
         Validate that error conditions are caught correctly
         """
-        stderr = BytesIO()
-        management.call_command(
-            'loaddata',
-            'bad_fixture2',
-            verbosity=0,
-            commit=False,
-            stderr=stderr,
-        )
-        self.assertEqual(
-            stderr.getvalue(),
-            "No fixture data found for 'bad_fixture2'. (File format may be invalid.)\n"
-        )
+        with self.assertRaisesRegexp(management.CommandError,
+                "No fixture data found for 'bad_fixture2'. \(File format may be invalid.\)"):
+            management.call_command(
+                'loaddata',
+                'bad_fixture2',
+                verbosity=0,
+                commit=False,
+            )
 
     def test_empty(self):
         """
         Test for ticket #4371 -- Loading a fixture file with no data returns an error.
         Validate that error conditions are caught correctly
         """
-        stderr = BytesIO()
-        management.call_command(
-            'loaddata',
-            'empty',
-            verbosity=0,
-            commit=False,
-            stderr=stderr,
-        )
-        self.assertEqual(
-            stderr.getvalue(),
-            "No fixture data found for 'empty'. (File format may be invalid.)\n"
-        )
+        with self.assertRaisesRegexp(management.CommandError,
+                "No fixture data found for 'empty'. \(File format may be invalid.\)"):
+            management.call_command(
+                'loaddata',
+                'empty',
+                verbosity=0,
+                commit=False,
+            )
 
     def test_error_message(self):
         """
         (Regression for #9011 - error message is correct)
         """
-        stderr = BytesIO()
-        management.call_command(
-            'loaddata',
-            'bad_fixture2',
-            'animal',
-            verbosity=0,
-            commit=False,
-            stderr=stderr,
-        )
-        self.assertEqual(
-            stderr.getvalue(),
-            "No fixture data found for 'bad_fixture2'. (File format may be invalid.)\n"
-        )
+        with self.assertRaisesRegexp(management.CommandError,
+                "^No fixture data found for 'bad_fixture2'. \(File format may be invalid.\)$"):
+            management.call_command(
+                'loaddata',
+                'bad_fixture2',
+                'animal',
+                verbosity=0,
+                commit=False,
+            )
 
     def test_pg_sequence_resetting_checks(self):
         """
@@ -357,17 +338,14 @@ class TestFixtures(TestCase):
         """
         Regression for #3615 - Ensure data with nonexistent child key references raises error
         """
-        stderr = BytesIO()
-        management.call_command(
-            'loaddata',
-            'forward_ref_bad_data.json',
-            verbosity=0,
-            commit=False,
-            stderr=stderr,
-        )
-        self.assertTrue(
-            stderr.getvalue().startswith('Problem installing fixture')
-        )
+        with self.assertRaisesRegexp(IntegrityError,
+                "Problem installing fixture"):
+            management.call_command(
+                'loaddata',
+                'forward_ref_bad_data.json',
+                verbosity=0,
+                commit=False,
+            )
 
     _cur_dir = os.path.dirname(os.path.abspath(__file__))
 
@@ -392,16 +370,14 @@ class TestFixtures(TestCase):
         """
         Regression for #7043 - Error is quickly reported when no fixtures is provided in the command line.
         """
-        stderr = BytesIO()
-        management.call_command(
-            'loaddata',
-            verbosity=0,
-            commit=False,
-            stderr=stderr,
-        )
-        self.assertEqual(
-            stderr.getvalue(), 'No database fixture specified. Please provide the path of at least one fixture in the command line.\n'
-        )
+        with self.assertRaisesRegexp(management.CommandError,
+                "No database fixture specified. Please provide the path of "
+                "at least one fixture in the command line."):
+            management.call_command(
+                'loaddata',
+                verbosity=0,
+                commit=False,
+            )
 
     def test_loaddata_not_existant_fixture_file(self):
         stdout_output = BytesIO()
