Setup
1 Node cluster on my local laptop: 8core, Xms=8G, Xmx=8G

Indexing performance (Single index):
10 million payments, each one about 5KB, with batch size = 10000. Each batch takes roughly 2.5 s → 4 s, total time to index 10 million payment is around 50 min

Indexing performance (Multiple indices):
20 separate indices store totally 10 million payments. Indexing execution is slightly faster than single index case. Each batch takes roughly 1.7 s → 3.8 s, total time to index 10 million payment is around 38 min

Parameters required for bulk load operation
Elasticsearch config: http.max_content_length: 500mb

Client time out adjustment:

RestClient.builder(HttpHost("localhost", 9200))
        .setRequestConfigCallback {
    it.apply {
        this.setConnectTimeout(5000)
        this.setSocketTimeout(60000)
    }
}.setMaxRetryTimeoutMillis(60000))

Initially batch size is set to 100000, elastic search server becomes unstable with high GC frequency, occupying a large percent of CPU time. So larger batch size does not always imply higher performance

Query aggregation performance:

Test query: real aggregation query used by rule engine

{
  "aggregations": {
    "date_range": {
      "range": {
        "field": "createdAt",
        "ranges": [
          {
            "key": "LAST_7_DAYS",
            "from": 1544400968485,
            "to": 1545005768486
          }
        ],
        "keyed": false
      },
      "aggregations": {
        "filter_aggregator": {
          "filters": {
            "filters": {
              "602c7d66-e990-4dfb-b6e2-72b62ff159d5": {
                "terms": {
                  "beneficiaryId.keyword": [
                    "602c7d66-e990-4dfb-b6e2-72b62ff159d5"
                  ],
                  "boost": 1
                }
              },
              "67cab0c8-2510-443d-8f00-bce19c04815e": {
                "terms": {
                  "bankAccountUserId.keyword": [
                    "67cab0c8-2510-443d-8f00-bce19c04815e"
                  ],
                  "boost": 1
                }
              },
              "8da52e51-eabf-4f6c-b9f0-e222933c1cb7": {
                "terms": {
                  "payerId.keyword": [
                    "8da52e51-eabf-4f6c-b9f0-e222933c1cb7"
                  ],
                  "boost": 1
                }
              },
              "8da52e51-eabf-4f6c-b9f0-e222933c1cb7_602c7d66-e990-4dfb-b6e2-72b62ff159d5": {
                "bool": {
                  "filter": [
                    {
                      "terms": {
                        "payerId.keyword": [
                          "8da52e51-eabf-4f6c-b9f0-e222933c1cb7"
                        ],
                        "boost": 1
                      }
                    },
                    {
                      "terms": {
                        "beneficiaryId.keyword": [
                          "602c7d66-e990-4dfb-b6e2-72b62ff159d5"
                        ],
                        "boost": 1
                      }
                    }
                  ],
                  "adjust_pure_negative": true,
                  "boost": 1
                }
              },
              "9a1b4bad-ccf5-4c67-8718-02696cb351e4": {
                "terms": {
                  "clientId.keyword": [
                    "9a1b4bad-ccf5-4c67-8718-02696cb351e4"
                  ],
                  "boost": 1
                }
              },
              "9a1b4bad-ccf5-4c67-8718-02696cb351e4_602c7d66-e990-4dfb-b6e2-72b62ff159d5": {
                "bool": {
                  "filter": [
                    {
                      "terms": {
                        "clientId.keyword": [
                          "9a1b4bad-ccf5-4c67-8718-02696cb351e4"
                        ],
                        "boost": 1
                      }
                    },
                    {
                      "terms": {
                        "beneficiaryId.keyword": [
                          "602c7d66-e990-4dfb-b6e2-72b62ff159d5"
                        ],
                        "boost": 1
                      }
                    }
                  ],
                  "adjust_pure_negative": true,
                  "boost": 1
                }
              },
              "9a1b4bad-ccf5-4c67-8718-02696cb351e4_8da52e51-eabf-4f6c-b9f0-e222933c1cb7": {
                "bool": {
                  "filter": [
                    {
                      "terms": {
                        "clientId.keyword": [
                          "9a1b4bad-ccf5-4c67-8718-02696cb351e4"
                        ],
                        "boost": 1
                      }
                    },
                    {
                      "terms": {
                        "payerId.keyword": [
                          "8da52e51-eabf-4f6c-b9f0-e222933c1cb7"
                        ],
                        "boost": 1
                      }
                    }
                  ],
                  "adjust_pure_negative": true,
                  "boost": 1
                }
              },
              "9a1b4bad-ccf5-4c67-8718-02696cb351e4_8da52e51-eabf-4f6c-b9f0-e222933c1cb7_602c7d66-e990-4dfb-b6e2-72b62ff159d5": {
                "bool": {
                  "filter": [
                    {
                      "terms": {
                        "clientId.keyword": [
                          "9a1b4bad-ccf5-4c67-8718-02696cb351e4"
                        ],
                        "boost": 1
                      }
                    },
                    {
                      "terms": {
                        "payerId.keyword": [
                          "8da52e51-eabf-4f6c-b9f0-e222933c1cb7"
                        ],
                        "boost": 1
                      }
                    },
                    {
                      "terms": {
                        "beneficiaryId.keyword": [
                          "602c7d66-e990-4dfb-b6e2-72b62ff159d5"
                        ],
                        "boost": 1
                      }
                    }
                  ],
                  "adjust_pure_negative": true,
                  "boost": 1
                }
              }
            },
            "other_bucket": false,
            "other_bucket_key": "_other_"
          },
          "aggregations": {
            "beneficiary_amount": {
              "stats": {
                "field": "beneficiaryAmountUsd"
              }
            },
            "payer_amount": {
              "stats": {
                "field": "payerAmountUsd"
              }
            },
            "distinct_count_beneficiary": {
              "cardinality": {
                "field": "beneficiaryId.keyword"
              }
            },
            "distinct_count_payer": {
              "cardinality": {
                "field": "payerId.keyword"
              }
            },
            "distinct_count_client": {
              "cardinality": {
                "field": "clientId.keyword"
              }
            },
            "distinct_count_bank_acc": {
              "cardinality": {
                "field": "bankAccountUserId.keyword"
              }
            },
            "distinct_count_bene_country": {
              "cardinality": {
                "field": "beneficiaryCountry.keyword"
              }
            },
            "distinct_count_payer_country": {
              "cardinality": {
                "field": "payerCountry.keyword"
              }
            },
            "distinct_count_bene_currency": {
              "cardinality": {
                "field": "beneficiaryCurrency.keyword"
              }
            },
            "distinct_count_payer_currency": {
              "cardinality": {
                "field": "payerCurrency.keyword"
              }
            },
            "structured_payment_amount_personal": {
              "range": {
                "field": "payerAmountUsd",
                "ranges": [
                  {
                    "from": 9000,
                    "to": 9999.999
                  }
                ],
                "keyed": false
              }
            },
            "structured_payment_amount_company": {
              "range": {
                "field": "payerAmountUsd",
                "ranges": [
                  {
                    "from": 112500000,
                    "to": 124999999.999
                  }
                ],
                "keyed": false
              }
            }
          }
        }
      }
    }
  }
}

Test result : (Single Index)

Scenario Number of run Execution times Min Max Average
Single thread Search result hit Result size unset 10 6s, 5.9s, 5.9s, 6s, 5.9s, 6.2s, 6.2s, 6.2s, 6.6s, 8.2s 5.9s 8.2s 6.93s
Single thread Search result hit Result size = 0 10 7200ms, 12ms, 19ms, 20ms, 23ms, 22ms, 28ms, 21ms, 19ms, 29ms 12ms 7200ms 19.3ms (First execution takes 7.2s, deviates too much from the rest, so exclude it)
Single thread Search result none hit Result size unset 10 510ms, 529ms, 549ms, 512ms, 489ms, 520ms, 506ms, 500ms, 493ms, 499ms 489ms 549ms 510.7ms
Single thread Search result none hit Result size = 0 10 389ms, 1ms, 2ms, 3ms, 3ms, 1ms, 1ms, 1ms, 2ms, 3ms 389ms 1ms 1.89ms (First execution takes 389ms, deviates too much from the rest, so exclude it)
20 threads Search result hit Result size unset 10 Exception, listener timeout after waiting for [60000] ms
20 threads Search result hit Result size = 0 10 18ms, 29ms, 61ms, 53ms, 93ms, 20ms, 39ms, 82ms, 17ms, 24ms 17ms 82ms 43.6ms
20 threads Search result none hit Result size unset 10 4.4s, 5.8s, 4.9s, 5.6s 4.6s, 5.4s, 5.3s 4.7s, 5.8s, 4.7s 5.8s 4.4s 5.1s
20 threads Search result none hit Result size = 0 10 1.4s, 25ms, 6ms, 22ms, 276ms, 250ms, 19ms, 30ms, 11ms, 18ms 1.4s 11ms 73ms (First execution takes 1.4s, deviates too much from the rest, so exclude it)

Test result: (Multiple Index)

Scenario Number of run Execution times Min Max Average
Single thread Search result hit Result size unset 10 12.6s, 12.7s 12.6s 12.7s, 13.1s, 13.1s, 13.2s, 13,1s, 13.1s, 13.1s 12.6s 13.2s 12.9s
Single thread Search result hit Result size = 0 10 212ms, 147ms, 170ms, 272ms, 223ms, 222ms, 207ms, 255ms, 219ms, 219ms 147ms 272ms 214.6ms
Single thread Search result none hit Result size unset 10 1.2s, 1.1s, 1.1s, 1.1s, 1.1s, 1.2s, 1.1s, 1.1s, 1.2s, 1.1s 1.1s 1.2s 1.13s
Single thread Search result none hit Result size = 0 10 909ms, 23ms, 23ms, 35ms, 14ms, 26ms, 19ms, 12ms, 15ms, 22m 12ms 909ms 18.9ms (First execution takes 909ms, deviates too much from the rest, so exclude it)
20 threads Search result hit Result size unset 10 Exception, listener timeout after waiting for [60000] ms
20 threads Search result hit Result size = 0 10 18ms, 29ms, 61ms, 53ms, 93ms, 20ms, 39ms, 82ms, 17ms, 24ms 17ms 93ms 43.6ms
20 threads Search result none hit Result size unset 10 7.8s, 7.6s, 7.1s, 6.9s, 7.4s, 8s, 7.3, 7.2s, 7.3s, 7.4s 6.9s 8s 7.4s
20 threads Search result none hit Result size = 0 10 202ms, 91ms, 100ms, 146ms, 182ms, 131ms, 158ms, 48ms, 171ms, 152ms 48ms 202ms 138.1ms

Conclusion:
Aggregation performance hinges on the number of documents that matches the aggregation 

Result size parameter has significant impact on aggregation performance. not only because it skipped returning hit documents, but also because it enables caching for aggregation result, otherwise, you have to force result caching by explicitly setting request_cache=true

https://www.elastic.co/guide/en/elasticsearch/reference/6.6/shard-request-cache.html

Executing query concurrently can also have negative impact on performance

Increasing number of indices have positive impact on index speed but have large negative impact on aggregation if the aggregation is performed across indices