On a truck of that size I do not think it is going to make a noticeable difference in your milage. Now if you said, would it help with wind noise in the cab. Then yes a fairing should help with that. Although you have not mentioned having this problem. I think you would be better off by simple removing the rack when it is not being used.
I have a fairing on the Thule rack I have on my VW, the only thing the fairing helps with is cutting the wind noise. If you're trying to help MPG's, remove the rack when you're not using it.
I didn't notice an increase when I took my rack off the Taco with roof high cab, so I saw leave it on. As others said, no increase in mileage, but helps if you have wind noise.... ps nice truck!
I experimented on a recent cross-country trip in my Jeep with a Gobi rack. Not much difference in the fuel economy; maybe 1/2 mile better with it in place. The noise was a different story. Without the deflector and at about 60mph, the rack began to sing so loudly it was difficult to carry on a conversation inside the cab. We promptly pulled over at the next available spot and re-installed. It's been on ever since. Hope this helps, Jerry
I run one on my Thule racks on my cap just to cut the wind noise. I don't think that it helps with MPG but I have never really checked with all the other more important factors like the awning and canoe...
If you have bad singing from a round tube roof rails/rack. Take some 550 cord and spiral wrap it around it, spaced about 1-2 inches apart. Depending on your liking. It cuts the wind noise down quite a bit.