Answer:
In my opinion lord had a better position as they the land was theirs to control, had most of the privileges and also had materialistic advantage over other layers, including vassals.
Step-by-step explanation:
Vassals didn't own land, they were using it in the name of the lord.
They had to give larger part of incomes to lords, and had many other obligations towards their senior.
On the other side, lords had to preserve their influence and control, which wasn't always easy, but still had better position than anyone else, including the vassals.