I’ll admit that XenForo has been my favorite for a long time too; it’s clean, fast, and the admin panel is hard to beat. But with Invision Community 5, the gap has closed a lot. IC5 added a ton of quality‑of‑life improvements and modern features that really changed how I look at the two.
These days I actually lean toward IC5. For my actual sites, I’ve been on Invision for quite a while because their full suite gives me everything I need without having to piece together multiple platforms. With XenForo, I’d end up pairing it with WordPress or other tools to get the same level of functionality, and that just adds more moving parts to maintain.
So while I still respect XenForo, and I totally get why people love it, IC5 has become the better fit for what I’m running today and I also perfer their forum now. Plus most of my sites rely on the CMS side, and Invision's Pages app is truly a pleasure to work with.