`qvm-backup` makes backup with size much bigger than data qube actually has. Fragmentation?

It is according to df -h.
Your command shows huge size (28 GiB).

sudo fstrim -v /rw
/rw: 0 B (0 bytes) trimmed

I also run sudo fstrim -av as @brendanhoar suggests here (so I hope it will not affect other partitions in any bad way), but the output was similar: 0 bytes trimmed. Nonetheless, after shutdown of the qube its size according to qvm-volume was reduced 100 times! Strange.
I thought fstrim is about ssd TRIM, was not thinking about effects on LVM.

So, thank you, @rustybird.

I am still curious, why was it happening in the first place, why isn’t fstrim scheduled (I am using template based on fedora-minimal, maybe that is the reason).