Ed has strong jaws that can bite into metal, can regenerate from anything Yang can do, and heck, he doesn't need regen to survive, since his durability is too high. His toonforce easily garuntees him a win, as well. Sure, Yang has her semblance, but Ed can wear it down, and if Yang somehow gets him mad while in Semblance mode, it's over. All Ed has to do there is wear down her Semblance, and then take her out like a rabid dog: biting, scratching, and possibly ripping limbs off. Her Regenerationn wouldn't help her there, since she doesn't have her Semblance.
Overall, Ed takes this due to his variety of abilities and ways of victory. Sure, Yang is way smarter, but Ed is stronger, more durable, and his toonforce is too much.
Winner: Ed