Arkage
Banned
Honestly I'd choose the holy blade personally. The axe has a much better R2 attack for stunning but outside of that the blade is better in every single way. It has horizontals as it's first R1 attack, overhead swing through L2 and lunge attack and piercing damage on its heavy attack. Then the light form is so much faster than the axe. It also scales better than it too. The R2 is honestly the biggest advantage for the axe, otherwise I find it particularly slow.
The problem I find is that I'm already loving the saw cleaver for fast attacks, so hitting faster isn't the reason why I use axe. Axe is for hard hitting and sweeping up groups. Ludwig hits hard, and maybe a little faster (but less damage, least on werewolves) but it's pretty bad for sweeping groups. And I use that axe sweep a lot.