..... I like American Pondweed. It provides some shade for the fish, it's easy to fish in with weedless topwater lures and it's easy to control if it gets out of hand.
The downside is that it doesn't provide cover for YOY fish. That's not a problem if you have artificial cover in the pond for them. Look at Eel grass too.
I would have thought American Pond weed would be good cover/habitat for YOY with all those stems and leaves - both floating and submerged. What is it about it that doesn't work well as cover for the YOY?
FWIW I tried planting several types of vegetation last year. Just small amounts of each to see what would survive the large level swings in a water table pond. The duck potato, creeping rush and yellow lilies did well. One plant, of what I think is American pond weed, showed up last summer. I am hoping it survives and spreads some. Water arum, dwarf cattail, pickerelweed, dwarf sagittaria, soft rush and lizard tail did not do well and I doubt they will survive.