FWIW - the Query Execution time can be misleading.
If I change the Query (say just add the field TermsCode, and click test, I get
Query returned 1318 row(s).
Query has no more records to return.
Query execution total time: 117.9414 m
Clicking test again (with no changes) and I get
Query returned 1318 row(s).
Query has no more records to return.
Query execution total time: 27.5502 ms.
After removing the TermsCode field, I get
Query returned 1318 row(s).
Query has no more records to return.
Query execution total time: 30.6655 ms.
So only the first test after making changes additions should be used.