Effective use of Collection Indexing and Querying Collections through SQL

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Triggered by a question placed by @Kurro Lopez  recently 
I took a closer look at the indexing of collections.
My simple test setup is a serial class and a persistent class with a list of this serial.

Class rcc.IC.serItem Extends (%SerialObject, %Populate)
{ Property Subject As %String [ Required ]; 
  Property Change As %TimeStamp [ Required ]; 
  Property Color As %String(COLLATION = "EXACT", 
     VALUELIST = ",red,white,blue,yellow,black,unknown") [ Required ];
Class rcc.IC.ItemList Extends (%Persistent, %Populate) [ Final ]
{ Property Company As %String [ Required ]; 
  Property Region As list Of %String(COLLATION = "EXACT", POPSPEC = ":4",
     VALUELIST = ",US,CD,MX,EU,JP,AU,ZA") [ Required ];
  Property Items As list Of DC.serItem(POPSPEC = ":4") [ Required ];
  Index xitm On Items(ELEMENTS);
  Index ycol On Items(ELEMENTS).Color;

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Index xitm holds the complete serial element. !!
With some records generated by %Populate utility  I could place this query

Select ID,Company from rcc_IC.ItemList
Where FOR SOME %ELEMENT(rcc_IC.ItemList.Items) ($list(%Value,3) in ('blue','yellow'))

This works OK but disassembling every serial object wasn't very promising for my performance considerations.
So I followed a hit from @Dan Pasco  recently seen in this forum a few days ago,
and expecting better performance I added 

Index ycol On Items(ELEMENTS).Color;

The result was rather disappointing.
No improvement.
Investigation of the query plan showed that the new index was just ignored.

 After some trials, this query satisfied my needs

Select ID,Company 
from %IGNOREINDEX xitm rcc_IC.ItemList
Where FOR SOME %ELEMENT(rcc_IC.ItemList.Items) ('blue,yellow' [ %Value )


During the investigation with many variations I found this rule:

IF you have more than one ELEMENT index on the same property the 
query generator always takes the alphabetic first index it finds.
And you have to explicitly exclude a non-fitting index.

As  there is no hint in the documentation I would like to know:

Is this observation correct or is it just an accidental effect in my case?

As ELEMENT index was designed for List of %String  I understand that  having
more than one index was just an unlikely case at the time of design.

Code is available in Open Exchange here


A test with 102,794 rows confirmed the performance difference.
#1)  on index xitm
Rows selected: 61320 Global Ref: 488,861 Commands: 5.244,585 Cached Query: %sqlcq.CACHE.cls16

#2) on index ycol
Rows selected: 61320 Global-Ref: 133,812 Commands: 3.909,205 Cached Query: %sqlcq.CACHE.cls13 

Reducing the query output to SELECT COUNT(ID) makes the difference even more dramatic
#1) Performance: 0.457 sec  Global-Ref: 574,193 Commands: 2.138,695
#2) Performance: 0.082 sec  Global-Ref: 205,973 Commands:   724,288