I have no opinion on which is more efficient. I imagine that it depends on who you ask where the manufacturers of ATS systems will tell you something different than chaeto reactor makers, or users? In the end, I imagine that either work pretty well. I remove a bucket full of chaeto ever week or two and it does a good job for me, but I don't have much of a basis for comparison.
I assumed, perhaps wrongly, that you were asking about elements being used up for the detriment of coral, so I don't really care about metals. Most macro will use up some of these, but I have never noticed.
All of this said, I do change water and many elements get replenished. Perhaps the DSR folks have some guidance on what else to supplement if you have massive macro amounts since they don't change water on the regular?