Axe vs. Sword

I have been playing a W/Mo with a sword for 19 levels now. However, I have heard that an axe does more damage and is faster. Is this true?
I have a number of axe skills unlocked and am thinking about investing in either a superior rune of swordsmanship or axe mastery.
Can someone please tell me which weapon is better? I have run searches but I only come up with items for sale. I am seeking the knowledge of my fellow G.W. gamers.
Your help would be greatly appreciated.
Thanks!

Advanced search: don't include buy/sell forum.
Been discussed way too much.