Depending on your data, experimentally, some people find zstd --fast can beat LZ4 for them on compression, some people find the opposite; my usual advice to people considering one or the other is to experiment and find out.
(An interesting anecdote about the differing notions of compressibility - when I recently wrote something to do a clever dance to avoid burning a great deal of CPU on incompressible data with higher zstd levels, I ended up using LZ4 -> zstd-1 as a two-tier filter to catch incompressible data, because what they each thought was incompressible was different enough that only using LZ4 lost a significant amount of compression sometimes, but only using zstd-1 was comparatively expensive and also lost a significant fraction.)
note that for decompression speeds, they quote "We know LZ4 is significantly faster than ZSTD on standalone benchmarks: likely bottleneck is ROOT IO API"
https://indico.fnal.gov/event/16264/contributions/36466/atta...
You can see the classic Pareto frontier, with LZ4 filling the niche at the very bottom right edge of the graph.