Are there any additional insights as to the differences between open index or closed index funds? Which would you recommend?

Hello! Depending on your risk appetite and time horizon, your choice will differ. If you're looking to invest in the broad stock market for a longer term, an open-index fund would be more suitable. If you are more risk-seeking, a closed index fund will pay nice dividends as it uses leverage to increase gains. However, it is important to note that due to the high leverage, closed index funds are often downgraded which increases the cost of borrowing and higher borrowing costs eventually leads to reduced returns.