Charge current <100mA when running on HV3.0B+

[XANi]

When UPS Pico is shut down (and the rPi itself is running) the charge current is nice and high at ~500 mA (measured with clamp meter, on 10 Ah pack).

When the UPS Pico is enabled and pulsetrain is running it drops to below 100mA

Is that supposed to happen ? The voltage on rPi ports is almost exactly 5V (and on 3A charger)