If you have the funds, I would highly suggest that you apply for both.
I know of a CEC applicant who got approved so quickly and I know so many applicants who are still waiting for 6, 7, 8, 9, 10, 11, 12 months and even over a year
I also know applicant who applied for both CEC and TR2PR and his TR2PR got processed faster.
It is based on the following factors: your VO, the officer(s) handling your file and how fast they are, your whole application in general (dependants, list of travels, country of education and verifying all of those information.