No it is not. It is because 290/ 390(x) are high end cards vs 470 low-mid/ 480 mid level, amd has not released that high performance gpu yet.
470/ 480 owners were lucky to enjoy hig end hashing rates at one algo with some bios modding. Today ancient 290 hashes more than 470/ 480 with the same or better hash/ watt ratio, better get used to it.
ps. what where those every other currencies where 480 matched 390?
While R9 serie has better hash, I don't quite agree about the hash/watt ratio. My RX 470 has better hash ratio than my 290x and the R9 is undervolted, not the the RX.
Look at your 290x bios with hawaiibiosreader, pay some attention to those powerplay tables. Try those core speeds listed in dpm 2-7 + every combination listed in memory dpm 2-7.
Add afterburner -100mV or trixx -200mV and try what works best for you.