Works extremely well depending on the enclosure. Some controllers work better than others but you can even boot off a good SSD and you'll hardly notice the difference.
Also don't forget if you just want to save files an SD card is incredibly cheap small, fast, almost unbreakable and you can get a USB-C card reader for less than $10 which is the same size as a thumb drive.
128gb SD probably card costs about $20 which is perfectly adequate for files and you might even have one in a camera or other device. So easy to carry and they work even if you put them through the wash or one of your kids uses them for a bit of gardening.