Long term... we don't know. But then we don't know the long term effects of many things. As PP said above, if there were issues to be easily found, tobacco companies would have done so, it is in their interest to do so!
Short term, significantly better.
As far as I have found, all the dramatic claims that they're full of formaldehyde, give you popcorn lung etc etc, it turns out the study is flawed (burning vape juice at a stupidly high temp no human could actually inhale - ingredients not present in UK licenced and tested vape juices - studies based on people breathing in a food ingredient dust...)
If you are not used to breathing in water vapour, then yes, you'll cough. I don't, I vape a bottle of vape juice a week on the lowest nicotine, and no cough. I guess it is easier to vape too much, there is no clear 'end point' of 'a quick vape' as there is with a cigarette, but I find I vape when browsing the net/working or in the car, but not when I am busy using my hands to do other things (sewing, knitting, drawing, at least one of which I do every day). So it evens out. Certainly, two cardiologists and a rheumatologist (just the ones I happen to have asked as I see them) are not concerned, nor are any of the GPs in my local practice.
My sister mixes vaping and roll ups (despite her heart condition)... coughs worse than when she smoked pre-made cigs. All the anti-vape shit has allowed her to persuade herself that the odd roll up is BETTER for her than fucking vaping.