sp_executesql is more likely to promote query plan reuse. When using sp_executesql, parameters are explicitly identified in the calling signature. This excellent article descibes this process.
Set it by your command and add dynamic parts like use parameter values of sp(here @IsMonday and @IsTuesday are sp params)
execute the command
declare @sql varchar (100)
set @sql ='select * from #td1'
if (@IsMonday+@IsTuesday !='')
begin
set @sql= @sql+' where PickupDay in ('''+@IsMonday+''','''+@IsTuesday+''' )'
end
exec( @sql)
Microsoft's Using sp_executesql article recommends using sp_executesql instead of execute statement.
Because this stored procedure supports parameter substitution,
sp_executesql is more versatile than EXECUTE; and because
sp_executesql generates execution plans that are more likely to be
reused by SQL Server, sp_executesql is more efficient than EXECUTE.
So, the take away: Do not use execute statement. Use sp_executesql.
I would always use sp_executesql these days, all it really is is a wrapper for EXEC which handles parameters & variables.
However do not forget about OPTION RECOMPILE when tuning queries on very large databases, especially where you have data spanned over more than one database and are using a CONSTRAINT to limit index scans.
Unless you use OPTION RECOMPILE, SQL server will attempt to create a "one size fits all" execution plan for your query, and will run a full index scan each time it is run.
This is much less efficient than a seek, and means it is potentially scanning entire indexes which are constrained to ranges which you are not even querying :@