As long as you generate your passphrases properly (i.e. making sure they still have high entropy and don’t fall into the same pitfalls I listed, in case someone still decides to brute force your password as a passphrase), you can have a very secure passphrase. However, as far as sheer entropy goes, passwords have more entropy in a more compact space and are better in that respect.
P.S. Some applications have a character limit, meaning you’ll get more entropy out of a password than a passphrase. You might accidentally get weak entropy in a passphrase because of the character limit.