Most of your PCMO xw-40 grade oils shear to a 30 grade. The most shear stable 40 grade oils are Amsoil DEO, D1 ESP, Red Line 0w-40/5w-40. This is not just something exclusive to this oil. If you look at Redline 0w-40, it has a HT/HS of 4.0. I assume they formulate their oil w/o regard to fuel economy.
It's like I said in the recent Amsoil shear test, there is nothing wrong with the test, but some things to keep in mind.
Everyone is out of spec @ 5% fuel dilution in that test.
Everyone is well within stay in grade after the shear test.
*Essentially no shear means pretty bad fuel economy.
All the studies I've read suggest HT/HS has the most impact on fuel economy. Friction modifiers can only work to a point to improve fuel economy. It's the same reason why Mobil 1 0w30 has a HT/HS of 2.99.
In this particular UOA, fuel is a tad high. TR with B/S is a bit conservative. I don't like the viscosity drop, but apparently OEM's are ok with it. I don't know?