100% acrylic is the best to put on anything. Oil based anything is a good waterproofer, but fades very fast with UV rays. Just like oil-based paint. The newest and greatest technologies involve a combo of oil and water, and they do not deteriorate faster, because of water-based technology. They penetrate like an oil, but with the durability of a waterbase. tomh is correct about the prep. It is the most important part of any exterior wood project.