Single-frequency precise point positioning (SF-PPP) has attracted increasing attention due to its high precision and cost effectiveness. With various strategies to handle the dominant error, i.e., ionosphere delay, the ionosphere-float (IF), ionosphere-free-half (IFH), ionosphere-corrected (IC), and ionosphere-weighted (IW) SF-PPP models are certain to possess different characteristics and performance levels. This study is dedicated to assessing and comparing the four models from model characteristics, positioning performance, and atmosphere delay retrieval. The model comparison shows that IC and IW models are full-rank while IF and IFH models have a rank deficiency of size one that will result in biased estimations, which means the better solvability of IC and IW models. The experiments are carried out based on the 7-day Global Positioning System (GPS) observations collected at 57 global Multi-GNSS Experiment (MGEX) stations and Global Ionosphere Map (GIM) products. The results indicate that the IW model can accelerate SF-PPP convergence and achieve higher positioning accuracy compared to the other three SF-PPP models, especially in kinematic mode. With convergence criteria of 0.25 m in horizontal and 0.5 m in vertical, the east/north/up convergence times of IW model are 0.5/15.0/25.0 min and 0.5/16.0/36.5 min for static and kinematic modes, respectively. The IW model is able to achieve an instantaneous positioning accuracy of 0.28/0.35/0.75 m. In addition, a real kinematic test also demonstrates the best positioning solutions of IW model. Regarding troposphere delay retrieval, the IF, IFH, and IW models obtain a comparable daily accuracy of 3.0 cm on average, while the IC model achieves the worst accuracy of 8.0 cm. For precise ionosphere delay estimation, IW model only needs an average initialization time of 34.3 min, but a longer initialization time of 51.6 min is required for IF model. The daily precision of ionosphere delay estimation for IW model can reach up to 10.8 cm. At the present accuracy of GIM products, it is suggested that the IW model should be adopted for SF-PPP first due to its superior performance in positioning and atmosphere delay retrieval.