diff --git a/benches/index.ts b/benches/index.ts
index 553f154f8..cf66dcb3f 100644
--- a/benches/index.ts
+++ b/benches/index.ts
@@ -12,7 +12,10 @@ async function main(): Promise<void> {
   for await (const suitePath of fsWalk(suitesPath)) {
     // Skip over non-ts and non-js files
     const ext = path.extname(suitePath);
-    if (ext !== '.ts' && ext !== '.js') {
+    if (
+      (ext !== '.ts' && ext !== '.js') ||
+      path.basename(suitePath) !== 'git_utils_fs.ts'
+    ) {
       continue;
     }
     const suite: () => Promise<Summary> = (await import(suitePath)).default;
diff --git a/benches/suites/git/git_utils_fs.ts b/benches/suites/git/git_utils_fs.ts
new file mode 100644
index 000000000..cd3e0809b
--- /dev/null
+++ b/benches/suites/git/git_utils_fs.ts
@@ -0,0 +1,115 @@
+import fs from 'fs';
+import path from 'path';
+import os from 'os';
+import Logger, { LogLevel, StreamHandler } from '@matrixai/logger';
+import b from 'benny';
+import { EncryptedFS } from 'encryptedfs';
+import { summaryName, suiteCommon } from '../../utils';
+import * as gitTestUtils from '../../../tests/git/utils';
+import * as gitUtils from '../../../src/git/utils';
+import * as keysUtils from '../../../src/keys/utils';
+
+async function main() {
+  // Setting up repo
+  const dataDir = await fs.promises.mkdtemp(
+    path.join(os.tmpdir(), 'polykey-test-'),
+  );
+  const testGitState = {
+    author: 'tester',
+    commits: [
+      {
+        message: 'commit1',
+        files: [
+          {
+            name: 'file1',
+            contents: 'this is a file',
+          },
+        ],
+      },
+      {
+        message: 'commit2',
+        files: [
+          {
+            name: 'file2',
+            contents: 'this is another file',
+          },
+        ],
+      },
+      {
+        message: 'commit3',
+        files: [
+          {
+            name: 'file1',
+            contents: 'this is a changed file',
+          },
+        ],
+      },
+    ],
+  };
+
+  // Creating state for fs
+  const dirFs = path.join(dataDir, 'repository');
+  const gitdirFs = path.join(dirFs, '.git');
+  const gitDirsFs = {
+    fs: fs as any,
+    dir: dirFs,
+    gitDir: gitdirFs,
+    gitdir: gitdirFs,
+  };
+  // Creating simple state
+  await gitTestUtils.createGitRepo({
+    ...gitDirsFs,
+    ...testGitState,
+  });
+
+  // Creating state for efs
+  const logger = new Logger('listReferencesGenerator Test', LogLevel.WARN, [
+    new StreamHandler(),
+  ]);
+  const dbKey = keysUtils.generateKey();
+  const efs = await EncryptedFS.createEncryptedFS({
+    dbKey,
+    dbPath: dataDir,
+    logger,
+  });
+  await efs.start();
+
+  const dirEfs = path.join(efs.cwd, 'repository');
+  const gitdirEfs = path.join(dirEfs, '.git');
+  const gitDirsEfs = {
+    fs: efs as any,
+    dir: dirEfs,
+    gitDir: gitdirEfs,
+    gitdir: gitdirEfs,
+  };
+  await gitTestUtils.createGitRepo({
+    ...gitDirsEfs,
+    ...testGitState,
+  });
+
+  const summary = await b.suite(
+    summaryName(__filename),
+    b.add('listReferencesGenerator with fs', async () => {
+      for await (const _ of gitUtils.listReferencesGenerator({
+        ...gitDirsFs,
+      })) {
+        // We just want to iterate to test the speed of listReferencesGenerator
+      }
+    }),
+    b.add('listReferencesGenerator with efs', async () => {
+      for await (const _ of gitUtils.listReferencesGenerator({
+        ...gitDirsEfs,
+      })) {
+        // We just want to iterate to test the speed of listReferencesGenerator
+      }
+    }),
+    ...suiteCommon,
+  );
+  return summary;
+}
+
+if (require.main === module) {
+  void main();
+}
+
+export default main;