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The Hornady manual shows 5.2 gr as max for that load using Titegroup. So it is not the data that is underpowered.
I can't imagine a woefully underpowered charge that would drop 14" would even cycle the action properly. Any load that can reliably cycle the action should not be off more than a 2-3 inches at 25 yds.
And you say factory ammo works fine and you used it to zero for 25 yds. That means nothing is wrong with the pistol or else it would show up with factory ammo to some extent. So somthing is causing really low velocities even though there is enough pressure curve to cycle the action.
- Could be a bad batch of powder that does not burn at the proper rate. Moisture contamination?
- Contaminated primers not igniting fully? Did you handle them individually with sweaty hands or all by tray and primer tube/arm/tool?
- Really loose neck tension (I doubt it would cause this much difference, but...) Are the bullets seated firmly in the case, any looseness?
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