Why is Visual C++ not performing return-value optimization on the most trivial code?

Does Visual C++ not perform return-value optimization?

#include <cstdio>
struct Foo { ~Foo() { printf("Destructing...\n"); } };
Foo foo() { return Foo(); }
int main() { foo(); }

I compile and run it:

cl /O2 test.cpp
test.exe

And it prints:

Destructing...
Destructing...

Why is it not performing RVO?