One of the first questions to answer is, "How long do you want the coating to last?"

The reason this question matters is that most of the clear coatings will only last 1 to 3 or maybe 4 years. (The length of time will vary depending on sun exposure, the climate in your area, etc.) In my area, 2 years is a typical limit. If you do not mind re-applying the coatings frequently, then a clear coating will work.

If you want the coating to last longer, then a quality paint is the answer. Paint will last MUCH longer than the clear coatings. You can select a color that is close to the current color of the wood if desired.