215hp/288lbft for a 5.0.
239hp/282lbft for a 4.6.
The 5.0's torque comes on much lower in the powerband than the 4.6, which is typically the problem with all 4.6's.
The 5sp tranny in the 4.6 gives it a slight advantage but that can quickly be overcome in the 5.0's with a shift kit. Even a chip would help. Besides, if you're worried about the long term, the 4R70W in the 5.0's is bulletproof.
With only an intake, exhaust, and suspension mods, I've never lost to a 4.6, though, I've only "raced" two. However, if the Explorers had the DOHC 4.6 instead of the SOHC, I probably wouldn't have a chance. However, 5.0's respond MUCH better to mods than 4.6's. Just pick up any Mustang magazine and compare the hp of any modded 5.0 'stang to a 4.6. There's really no comparison.