Barometric Altimeter vs GPS Altimeter (3D Speed)

Does the watch use Barometric or GPS for altimeter readings during an activity? I have 3D speed enabled. 

Reason for ask, I had a F5X and currently have a F7XSS. I have (MTB) ridden the same course with both watches and the same settings with the exception of all satellites multiband for the F7X. 

F5X consistently read 1415'-1440' of ascent. 

F7X consistently reads 1590' - 1610' of ascent.

Which is accurate? 

Thanks!