Wanderlei had more fights for sure 22-4-1 I believe in Pride. Fedor 14-0-1. I would say Fedor had bigger 'notable' wins, where Wand had some pretty 'notable' losses.
Wanderlei biggest wins would be Hendo, Jackson (2x) and Arona. 3x over Sakuraba as well. As entertaining and as much of warrior as Saku was, he was also significantly undersized against Wand. So lets say Hendo,Rampage, and Arona (very close second fight), very close fight. His notable losses were pretty big ones. KO'd by Hendo, and decimated by Cro Cop the second time. I don't think he ever looked the same after that second Cro Cop fight. That was a career altering beatdown he received.
Fedor biggest wins Coleman (2x), Randleman (not to mention this one was absolutely iconic since Fedor literally was spiked on his head about 10 seconds before he finished him), Big Nog (2x), and an incredibly impressive victory after a war with Cro Cop, in possibly the most hyped up fight of that era.
Both impressive, but I think the notable losses for Wanderlei, as well as not getting to see Wanderlei fight against some of the cream of the 205lb crop at the time could be part of it. We never got to see him fight Overeem, Little Nog, Shogun (for obvious reasons). However I guess we didn't get to see Fedor fight Kharitonov or Vovchanchyn... I think it's more so the notable losses that Wand experienced to Arona, Hendo, and Cro Cop that really makes the difference.
..........everything I wrote is just air though. The real reason is because Fedor had the most badass entrances... ever? Wand's were cool and exciting. You knew you were about to see some carnage. But when Fedor entered you thought to yourself, "is someone about to die? Will he still be emotionless as he kills them?"