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Well, if you are traveling overseas, or for general principles you could leave it on Global, since Global will switch to any of the protocols as they are available in your market. Otherwise LTE/CDMA is where I would set the phone. Verizon's network is a CDMA network and if your area supports 4G LTE, you will benefit from a faster data transfer rate than simple 3G EDVO or lower protocols.
Global is the default setting, however the only other cellular protocols aside from CDMA and LTE which are supported by the Global setting are for protocols which are only overseas, if I'm not mistaken.