I’m less concerned about efficiency, and more about drivetrain longevity and general cleanliness (my bike often travels inside my car/van if I drive somewhere).
Wax (immersive and drip lube) works well for both as it does not pick up contamination. As I’ve gotten more experience with immersive waxing, it’s not something I’ll do very often, and will generally skew towards drip wax instead.