Underactuated robotic hands get a lot of attention in recent years. In order to analyze the grasp ability and optimize structure parameters of underactuated hands for effective grasp, new grasp performance metrics have been defined. The new metrics quantify the effective grasp region and grasp stability of underactuated hands. A general method to calculate the new performance metrics is introduced by developing a static grasp model. Then an optimization method of underactuated hands is proposed based on the new metrics and structure parameters of a general underactuated hand are optimized. Finally, the performance of the optimized hand is experimentally validated.