Oil Breakdown

The simple answer is when you have a weight like 5w50 like you do, the additives that make that large viscosity spread take up space in the oil that would otherwise be lubricant.
This needs a bit of added info: It's not as true for the synthetics.... they keep their viscosity more stable over temp changes than regular oils and need lower levels of VI's. So running a 5W50 synthetic would be like running a 10W30 dino oil as far as the levels of VI's. (As a SWAG....)