Shaded Pixels Per Second

What does this counter show?

This counter represents the total number of pixels that the Shader unit has processed per second. This includes the number of pixels visible and blended.

What does a high value mean?

A high value (for example, higher than the render target size) could indicate high overdraw and pixel processing load. In these cases pixel shaders should be made as simple as possible or the overdraw reduced, making alpha-blended polygons opaque.