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Imperialism gives 75% AE and 75% cost for every province. Does not matter if you have core or not.
Which is better? Depends how many you can grab with 100% Warscore. If you can only take those 5 for 25% AE and 75% WS then Reconquest. If you want to take more or all of them, and you can fit them all into 100% WS with 75% modifier, and extra AE does not matter, then Imperialism.
Remember, claims / cores also reduce AE and so does Prestige (or increase it if you have negative prestige).
So it all depends on several factors.
"Cede province - Only on provinces attacker has a core on
Return core"
http://eu4.paradoxwikis.com/Casus_belli