I don't personally know that I can reliably say one is better than the other. I've used both, and in my case I prefer tree fern. For me it holds moisture better, and as it breaks down it naturally provides some feeding for the plant. I also kind of like the way it looks, though agree that cork is more natural looking.
As an aside, I have a Phal which I purchased mounted on a section of bamboo, and I really like the way it looks.