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The higher return possible through mutual funds run by skilled managers like Bill Miller is tempting.
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The problem with this is it presupposes that you can identify the outperformers in advance.
But can you?
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The tax efficiency of an index fund would be negated because of the Roth IRA
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Tax efficiency may be mooted, but the long-term cost advantage of the index fund remains. Granted, once your portfolio is large enough that you hold other, less tax efficient assets (e.g.,
IJS and
VGSIX), you will want to shelter them, holding large blend-growth in taxable accounts, but for now, you're fine.
The Vanguard diehards will doubtless have more to say, and say it better than I.
FWIW,
Anthony