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"has underperformed" is correct and usable in written English.
It is commonly used in business contexts to describe when a company or individual has not met expectations or targets. For example, "The company's stock price has underperformed the industry average for the past two quarters."
Exact(60)
3) The defense has underperformed.
But Mr. Gleacher's firm has underperformed.
In recent weeks the stock has underperformed competitors.
Cabrera has underperformed but not to the same extent.
In the past year its share price has underperformed the NASDAQ.
In Britain this part of Barclays' business has underperformed for at least a decade.
Sure enough, since 2005, CommonWealth has underperformed the index of commercial office building REITs.
To this point, however, the Jets' offense, has underperformed by many measures.
After all, Microsoft's stock has underperformed Cisco's over the last 10 years.
Even so, the stock of Nabors has underperformed for a decade.
His show has impressed people in the syndicated television industry, while Ms. Couric's show has underperformed.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com