PREDICTION: At higher rpms, liquid positive displacement pumps can lose their pumping efficiency as vapor forms and/or air bubbles expand. In effect, the pump begins to transfer gas instead of liquid. For liquids such as volatile fuels with high vapor pressures, the vapor is typically the dominant effect, while for systems like oil pumps, with low vapor pressure, the Non-Condensable Gases (e.g. air) dominate.
The Simerics Cavitation Module includes both Non-Condensable Gases and vapor and has been proven to predict the performance of pumps and motors well into deep cavitation /aeration.
Here you can download a white paper discussing Using CFD to Judge Pump Performance.