I think the odds of death are much higher for a tornado than an earthquake assuming ~equivalent severity, but an earthquake can't take you to Oz, so it's a bit of a tossup for me.
Are you talking about standing in the middle of one (because obviously the answer would be earthquake), or just in the area of (where the answer would be tornado)??
I would clarify by saying your house was a sturdy structure, designed for whichever catastrophe was most likely to the area in which you live.
So, earthquake design for someone in California, tornado design for Oklahoma.
The house is in direct hit zone.
You are in the house, with reasonable time to prepare.
I've been near 4 tornadoes (less than 1/2 mile from each), and have been shaken (not stirred) by the earth twice.
I'm going with tornado.
Hide in the storm shelter in the basement...no problem.