Interesting question @ctheprince! In my experience running a CLOAK full node on a Raspberry Pi for a short amount of time, CLOAK has a very similar privacy model to DASH, but with a few key differences.

In DASH, a MasterNode costs 1000 DASH to run and these nodes receive a portion of the block reward for their services. CLOAK, however, allows any full node to effectively act like a "MasterNode" in DASH. A CLOAK full node will help provide CoinJoin-esque mixing services when Enigma is enabled and your wallet is unlocked for minting.

Unlike DASH, Cloakcoin is a pure Proof of Stake coin whereas DASH still has a Proof of Work element. This means that a Cloakcoin wallet that's in "minting mode" will receive new coins roughly in correlation to the amount of funds the wallet has staked.

Whether or not a PoW or PoS algorithm is more secure is a topic of much debate in the cryptocurrency world, so some of this will come down to personal preference.

The privacy tech at the heart of both coins is virtually identical, though! I hope this helps to explain a bit further.