backup utility - "Complete (all files on your portable drive)"

A dumb question I know, but I've tried search and can't find an answer. In the Portable Apps backup utility I assume the option "Complete (all files on your portable drive)" actually means all folders and files - not just those in the Portable Apps folder. Therefore if I have my Portable Apps folder on my main C: drive , does that mean the utility will try and backup my whole C: drive?