Calculated frame rate different from NVidia's FPS display with SDL3

Is the NVidia display incorrect here, or do I not understand how SDL works properly?

Just trying to learn SDL (SDL3 in particular), and every time I do a SDL_RenderPresent, I’m incrementing the counter, and just divide that by the elapsed time every few seconds.

When I enable VSync, it’s more or less matching the monitor (240Hz, calculating ~238-241 fps). When I disable VSync, I’m getting thousands of updates per second. That’s what I was hoping for.

But the NVidia FPS Overlay is stating I’m only receiving 50-60 fps.

I can’t really tell on my screen which is correct, nor have I done any optimization at this point. Like, is it rendering on a different thread, which could allow for all the updates? I’m just trying to get an accurate FPS representation to understand how much will need to be optimized. If not, why does the NVidia overlay differ so much in value?