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Performance: More Elements VS More Conditions

Hoping for some help here from those more knowledgeable than me. I’m designing an SPA and trying to answer what should be a pretty straightforward question: Do conditions or elements have a greater impact on performance, in general? That is to say, all other things being equal, is it likely my app will perform better with a single group and two variations that are toggled depending on conditions or two separate groups that have no conditions? The answer would go a long way toward informing my overall approach. Please and thank you!