diff --git a/CHANGELOG.rst b/CHANGELOG.rst
index 6958393f..79a5a2f2 100644
--- a/CHANGELOG.rst
+++ b/CHANGELOG.rst
@@ -9,6 +9,7 @@ unreleased
 * bugfix: SQLAlcemy plugin would cause warning messages with some db connection strings that contained invalid characters for a segment/subsegment name.
 * bugfix: Aiohttp middleware serialized URL values incorrectly. `PR37 <https://github.com/aws/aws-xray-sdk-python/pull/37>`_
 * bugfix: Don't overwrite plugins list on each `.configure` call. `PR38 <https://github.com/aws/aws-xray-sdk-python/pull/38>`_
+* bugfix: Do not swallow `return_value`. `PR44 <https://github.com/aws/aws-xray-sdk-python/pull/44>`_
 
 0.96
 ====
diff --git a/aws_xray_sdk/core/recorder.py b/aws_xray_sdk/core/recorder.py
index 2b1f5437..963cf4b2 100644
--- a/aws_xray_sdk/core/recorder.py
+++ b/aws_xray_sdk/core/recorder.py
@@ -336,7 +336,7 @@ def record_subsegment(self, wrapped, instance, args, kwargs, name,
         finally:
             # No-op if subsegment is `None` due to `LOG_ERROR`.
             if subsegment is None:
-                return
+                return return_value
 
             end_time = time.time()
             if callable(meta_processor):
diff --git a/tests/ext/botocore/test_botocore.py b/tests/ext/botocore/test_botocore.py
index b9dd9c79..2e064c0b 100644
--- a/tests/ext/botocore/test_botocore.py
+++ b/tests/ext/botocore/test_botocore.py
@@ -122,6 +122,7 @@ def test_pass_through_on_context_missing():
 
     with Stubber(ddb) as stubber:
         stubber.add_response('describe_table', response, {'TableName': 'mytable'})
-        ddb.describe_table(TableName='mytable')
+        result = ddb.describe_table(TableName='mytable')
+        assert result is not None
 
     xray_recorder.configure(context_missing='RUNTIME_ERROR')