Depends to the sign-in flow design, I would argue magic-link style passwordless sign-in would be more secure than traditional username/password sign-in.
In magic-link style of authentication approach, to compromise one's login access to your web application, adversary will need to compromise victim's email account access to the extent that he can read the email from victim's at the time he going to sign-in your web application. It causes more trails and mail alert, which is harder to cover up, and victim will notices about that easier, hence more difficult to success.
However, in username/password authentication approach, adversary is possible to compromise the access totally unnoticed by user, since the adversary may bought the database dump from dark web containing the password and crack it offline. Hence it is possible that adversary can use the cracked password the login the web application without any notice to the user, and additional countermeasures will need to implement to improve the situation (e.g. a follow up email to user that he's logged in the web application).