Better to have more indices or more shards per index?

Let's say I have 200 GB of data and I'll split it between 4 shards of 50 GB each. Is there a difference in terms of performance whether I have 4 indices with 1 shard each, versus having one index with 4 primary shards?

No, that should roughly be the same.

Thanks. Is there any other reason why someone would choose one arrangement over the other?