I often discuss both these comparisons, but given most of my writing is sector related, sometimes I include Discretionary vs Staples charts and perhaps only mention "HB / LV". Now I know to give HB/LV more weight (while a lot of "technical" analysis makes it onto SA, they still discourage pure TA, and sometimes I think they don't know the difference between "quant" vs "TA". HB/LV is quant IMHO but a lot of TA has become quantitative so the lines are blurring):
HB/LV = 20.9% annualized return (trading signal 1996-2015)
CD/CS = 14.9%
Buy/Hold = 6.2%
see the S&P DJ article below (short read):
I'll include the charts when I publish next week on earnings.
Disclosure: I am/we are short SPY.
Additional disclosure: My SPY short is actually bearish option positions on SPX. Sold the XLV on bounce (still think it is a good long term sector, but I play short in a bear market).