LED displays are LCD's with LED back lighting. saying that it's an LED tell you little about the display's performance.
types of LCD's are
-TN: fast, responsive, bad color and off angles. highly favored by gamers.
-IPS/PLS: slower, good color and off angles. highly favored by content producers and gamers with a discerning eye.
-other: there's a handful of other, more obscure LCD panel types that vary on how they function, but they are fairly rare in the industry.
the speed discrepancy between TN and IPS/PLS is rapidly closing and you can get 144Hz IPS/PLS displays these days. however there is presently a price premium over their TN variants.