Unexpected performance results about instance and using indirect buffers

Hi, Y’all!

Doing a review of the performance of my application I have obtained results that are difficult for me to understand, I am using transform feedback and indirect buffers to culling and draw diferents LOD´s, with this I have been able to instantiate many more 3D models, also for the passage of shadows.

but doing a review on performance soon I’ve seen something quite weird, when I represent 3D instances using TF and Indirect buffers (calling glDrawElementsIndirect) The Usage and Load of my GPU they went down, (you can see it in IMAGE 1),
I am using Uniform buffer to avoid set all uniforms shaders in each draw call (to spected get more CPU performance), and the sum of all drawEmentsIndirects calls is 10-18 depending of chunks loaded, I think that don’t are much to down performance of GPU, I’m also very sure that VRAM memory resources are not being using shared.

Ps. without instancing AVG FPS is 120, with intancing AVG FPS is 65 and Instancing and shadows AVG FPS is 58
Ps. I am using a modern Hardware Gtx1000 series.

I expected to be able to maintain a GPU usage above 97, any suggestion about what may be happening?