I couldn't honestly tell you which is more nutritious. But there were enough question marks over the safety of soy that it's not a direction I wanted to head.
I would think at that age the nutrition level of their food is more important than their milk, if that makes sense.
After 12 months, most kids will get nutrition from food, with milk just one part of this diet. It shoudln't be a big part, generally speaking. If the toddler is not eating much of anything, then they may need to stay on formula (if not breastfeeding).
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