Live Expressions does not require any specific peripheral in the MCU which means you can use it with Cortex-M0 while the SWV is required for SWV data trace.
Neither put any real load on the MCU processor.
SWV utilizes timestamps which gives more precise knowledge of when the memory access happened on the target device, live expressions doesn't.
SWV is limited to 4 memory addresses while Live Expression is in theory unlimited while adding many variables will cause slower periodic updates.
The main benefit of Live Expressions is that it's easy to set up and get started and that it works on any Cortex-M.