Nvidia developed a technology called adaptive vsync, which keeps your framerate from needlessly dropping in games when your PC can't generate a framerate as high as your monitor's refreshrate, while also getting rid of screen tearing.
So for example, on standard vsync your PC might be capable of outputting 55 fps but if your monitor is 60 Hz, you're only going to be getting like 30, 40, or 45.
I don't really understand how the tech works, but that's the effect.