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To perform not as well as (something else): three stocks that underperformed the market as a whole.
(verb-transitive)
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To perform (a musical or theatrical work, for example) too seldom: In recent years, her plays have been underperformed.
(verb-transitive)
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To exhibit a level of performance that is below the standard: Defense industry companies have underperformed during the last two quarters.
(verb-intransitive)
American Heritage(R) Dictionary of the English Language, Fifth Edition. Copyright (c) 2011 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.