That depends on how you look at it I'd say.
You could also say that there's significant overhead for not using the WA framework. Because that's what you're doing here.
The purely default features that 99.9% of users come into contact with are perfectly performant.
Once you move out of that and into custom code, you gotta be aware that all of WAs custom code blocks get xpcalled. The performance impact of that is absolutely negligible in most cases, but especially if you run your stuff very often like with FRAME_UPDATE here it's getting more and more "problematic". Your (or any) Addon doesn't do that, so it's bound to perform better in those circumstances if everything else is equal.
But even within custom code solutions: you already noticed a difference.
I watch a Health Trigger, which means I only update when necessary and all the API calls are handles by WA, while you just do that in an every frame Check (which is obviously less accurate, but that aside), and my version performs a bit better.
Usually, relying more on WAs native features rather than solving the same thing with custom code is more performant.