That depends. Are you asking because you have a 'studio in a box' that only lets you run two things on the effects card? (in which case 'effects' would include compression, eq, and any other processing)
If so, I would have to go with EQ and compression. Of course, if you only get one instance of an EQ or compressor, that's pretty useless. I'd probably go back to my original answer in that case.