Can GPU-Z monitor total GPU utilization of each vGPU?

I am running 4 VMs concurrently and each vGPU is m60-2Q. All VMs are running bechmark test. I monitor each vGPU with Techpowerup GPU-Z. I find an interesting result. If I add up all vGPU utilization, the total always equal 100%. It seems that the GPU utilization shows on GPU-Z is actually the pGPU utilization of each vGPU. I am not sure about this and I need someone to confirm this.