While the former will cost 3 times less:
The latter will cost more:
Are both almost the same or the latter is better (which i suppose is judging by price)?
it depends on what you are using it for. Surge protectors simply protect from power surges. Power cleaners and UPS's offer more features such as electrical noise cleaning, protection from a dip in current, etc.
If you are not experiencing any issues with your hardware due to electrical inconsistencies, than a simple surge protector is all you need.