Back to business, one part that the UEF have an advantage of is that Jackhammers can be loaded into heavy fighters, so they have an edge there in term of adaptability. Sledgehammers can only be carried by bombers just like the Helios is. UEF bombers are also better because while their bomb bays are reloading, they can continue to pummel enemy capships with their Redeemer and Vajra primaries.
In term of use, torpedoes are meant to deliver more sustained damage while bombs are meant to deliver large amount of burst damage. Also take note of the different doctrines of torpedo use by the UEF and GTVA. The UEF uses torpedoes both as one of their primary means of damage dealing and to suppress enemy point defenses, allowing their gunships and bombers to close in and do their things to the enemy vessel (disabling, disarming, knock out a subsystem, or just plain damaging it). The GTVA on the other hand uses torpedoes more as a tactical option, such as for subspace SSM strikes, and they are only carried by their largest ships. It also helps to compensate for the blind spots on their ships.