Indictments, requiring grand juries, are used mostly in serious felony cases to determine whether a defendant should stand trial on charges. Pursuing charges on an Information is usually used for misdemeanors and less serious charges. Both are used in federal court.

In PA state courts we don't use grand juries, but have preliminary hearings before elected district judges for the sole purpose of determining whether there is enough evidence to hold the matter for trial. The judges can't make credibility determinations, but must base the decision on whether a crime is alleged and the defendant may have some connection. Therefore , the defense should never present any evidence at all.

The evidentiary rules are a little more relaxed at these hearings though the decision to hold the case for court can not be based only on hearsay evidence.

There is no effective advantage of holding the case by either means. The information/prelim hearing is easier while the grand jury indictment puts a direct public stamp on the case. I should note that grand jury proceedings are closed while preliminary hearings generally are not in state court.