One the one hand, a rotating prop throws some water sideways - not
all the thrust is directed aft. Therefore I'd suggest that a shrouded prop (such as you'd find in a waterjet) would produce more thrust-per-watt = higher speed.
On the other hand, shrouding anything will increase the wetted area and the drag = lower speed.
So take your pick.

Andy, voting for half a finger on the first hand.