depends on what you define as better. hps and metal halide lights will grow larger plants. led lights will last forever. hps and metal halide use a ton of energy and create a lot of heat. so usually you have to invest in a ventilation system. led lights create almost no heat.
i have never used the led lights, but i hear that people have good results. i have also heard that if you are using led grow lights that you should use a couple cfl's with them. the cfls make it more effective.
look up some pictures on the internet of grows with led lights and grows with hps and mh lights.
hope that helped, good luck