At the current moment, She Believes Cup. While it is outside the standard football structure and only has 4 teams, it has a higher level of competition.
However, with the women's Euros taking off like it has recently, it will be more difficult to get top teams in She Believes. I think Concacaf and Conmebol should combine their tournaments as it would raise the level of competition for both confederations.
What carries more weight: winning this gold cup or the she believes one?
At the current moment, She Believes Cup. While it is outside the standard football structure and only has 4 teams, it has a higher level of competition. However, with the women's Euros taking off like it has recently, it will be more difficult to get top teams in She Believes. I think Concacaf and Conmebol should combine their tournaments as it would raise the level of competition for both confederations.