diff --git a/trio/_util.py b/trio/_util.py
index 3592065820..333896acde 100644
--- a/trio/_util.py
+++ b/trio/_util.py
@@ -99,7 +99,7 @@ async def __aexit__(self, type, value, traceback):
             try:
                 await self._agen.asend(None)
             except StopAsyncIteration:
-                return
+                return False
             else:
                 raise RuntimeError("async generator didn't stop")
         else:
@@ -122,7 +122,7 @@ async def __aexit__(self, type, value, traceback):
                 # Likewise, avoid suppressing if a StopIteration exception
                 # was passed to throw() and later wrapped into a RuntimeError
                 # (see PEP 479).
-                if exc.__cause__ is value:
+                if isinstance(value, (StopIteration, StopAsyncIteration)) and exc.__cause__ is value:
                     return False
                 raise
             except:
@@ -133,8 +133,9 @@ async def __aexit__(self, type, value, traceback):
                 # fixes the impedance mismatch between the throw() protocol
                 # and the __exit__() protocol.
                 #
-                if sys.exc_info()[1] is not value:
-                    raise
+                if sys.exc_info()[1] is value:
+                    return False
+                raise
 
     def __enter__(self):
         raise RuntimeError("use 'async with {func_name}(...)', not 'with {func_name}(...)'".format(func_name=self._func_name))
diff --git a/trio/tests/test_util.py b/trio/tests/test_util.py
index 00b0907d32..309e6ac81f 100644
--- a/trio/tests/test_util.py
+++ b/trio/tests/test_util.py
@@ -1,6 +1,10 @@
 import pytest
 
 import signal
+import sys
+import textwrap
+
+from async_generator import async_generator, yield_
 
 from .._util import *
 from .. import _core
@@ -58,3 +62,68 @@ async def wait_with_ul1():
                 async with ul1:
                     pass  # pragma: no cover
     assert "ul1" in str(excinfo.value)
+
+
+async def test_contextmanager_do_not_unchain_non_stopiteration_exceptions():
+    @acontextmanager
+    @async_generator
+    async def manager_issue29692():
+        try:
+            await yield_()
+        except Exception as exc:
+            raise RuntimeError('issue29692:Chained') from exc
+
+    with pytest.raises(RuntimeError) as excinfo:
+        async with manager_issue29692():
+            raise ZeroDivisionError
+    assert excinfo.value.args[0] == 'issue29692:Chained'
+    assert isinstance(excinfo.value.__cause__, ZeroDivisionError)
+
+    # This is a little funky because of implementation details in async_generator
+    # It can all go away once we stop supporting Python3.5
+    with pytest.raises(RuntimeError) as excinfo:
+        async with manager_issue29692():
+            exc = StopIteration('issue29692:Unchained')
+            raise exc
+    assert excinfo.value.args[0] == 'issue29692:Chained'
+    cause = excinfo.value.__cause__
+    assert cause.args[0] == 'generator raised StopIteration'
+    assert cause.__cause__ is exc
+
+    with pytest.raises(StopAsyncIteration) as excinfo:
+        async with manager_issue29692():
+            raise StopAsyncIteration('issue29692:Unchained')
+    assert excinfo.value.args[0] == 'issue29692:Unchained'
+    assert excinfo.value.__cause__ is None
+
+
+# Native async generators are only available from Python 3.6 and onwards
+nativeasyncgenerators = True
+try:
+    exec("""
+@acontextmanager
+async def manager_issue29692_2():
+    try:
+        yield
+    except Exception as exc:
+        raise RuntimeError('issue29692:Chained') from exc
+""")
+except SyntaxError:
+    nativeasyncgenerators = False
+
+
+@pytest.mark.skipif(not nativeasyncgenerators, reason="Python < 3.6 doesn't have native async generators")
+async def test_native_contextmanager_do_not_unchain_non_stopiteration_exceptions():
+
+    with pytest.raises(RuntimeError) as excinfo:
+        async with manager_issue29692_2():
+            raise ZeroDivisionError
+    assert excinfo.value.args[0] == 'issue29692:Chained'
+    assert isinstance(excinfo.value.__cause__, ZeroDivisionError)
+
+    for cls in [StopIteration, StopAsyncIteration]:
+        with pytest.raises(cls) as excinfo:
+            async with manager_issue29692_2():
+                raise cls('issue29692:Unchained')
+        assert excinfo.value.args[0] == 'issue29692:Unchained'
+        assert excinfo.value.__cause__ is None