If you use SnapMirror to Cloud Volumes ONTAP, that will retain efficiency of home directory data, but it will replicate all homes that may be on the volume. So you may "save" bandwidth from your home data due to efficiencies, but waste bandwidth and space due to presence of other home directories on the volume.
Cloud Volume Service doesn't pass on any savings to end user, you pay per "logical" capacity so there's no benefit from trying to preserve efficiencies - some savings could potentially come from bandwidth savings, but inbound bandwidth on the public cloud is usually free.
tldr; there isn't enough information about your use case and environment to say which one would be more suitable.
