Chaeto

It CAN, it doesnt always. You can prevent it from doing this by lighting the Caulerpa 24 hours a day. Both are good macros, diversity is best.
 
You may end up wishing you only had the chaeto. Caulerpa is very invasive. If it gets into your display, you will have a very difficult time removing it from your rocks and sand. Also, as you mentioned, caulerpa can go sexual and cause a tank crash.

Unless you really want the caulerpa and know the risks associated with it, I would recommend you stick with chaeto and remove the caulerpa.
 
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