My response doesn't answer which cardio workout is more efficient but rather focus on my personal observations on the topic,"Lose Bodyfat".
I've started my journey to weight loss recently, and started doing my research on the most efficient way to lose body fat. (Including but not limited to Cardio)
In my analysis, it's 80% Diet and 20% exercise, more importantly, one has to be consistent. And view it as a lifestyle shift to lead and much active Life.
Well there another crucial component which in my opinion will make a world of difference is
MINDSET & Knowledge
But my observations are from an amateur's perspective so please I suggest you do your research too.