Investing is more profitable I think, Because creating new coin is not a good thing now, there are so many coins now and most of them are not that functional or scams, It is better to invest on some ICOs that are potential in many ways, It is better to have a view on some ICOs that are worth to invest in.
investing in ico is more risky because you arent so sure if an ico is legit or scam even if you did inspect them . investing is also less profitable than creating or building your own business like for example creating a new coin .
you just need to think of the uniqueness or the purpose of your coin so that it can attract more people . lastly , creating a coin nowadays are more easier ( you dont need a developer's course or a blockchain degree ) rather all you need to do is pay a few bucks for a service that will create your own coin .