If I have a list of objects that need to have an operation performed on each, is there a best practice in abstracting the loop or not?

1. Looping over list and call

    def func(item):
        some_op(item)
        some_other_op(item)
   
    for item in items:
        func(item)
   

2. Call method and loop internally

    def func(items):
        for item in items:
            some_op(item)
            some_other_op(item)
   
    func(items)
   

Iteration takes place in both, so I think it would come down to compiler settings because of all the calls to func. Other than reducing function calls, I think #2 allows for not re-writing the loop elsewhere if another method needs to call func; it can just pass a container of arbitrary size.

Is there any merit to one over the other?