When you are talking about best on best, Canada leads the way by quite a bit. It's only be recently that Canada has been able to send it's best players to the Olympics, while Russia/USSR has pretty much always done so, other than perhaps for the 1994 Olympics (Russia didn't medal, Canada won silver).
Fixed it for yah.
Canada and Russia/USSR have the same amount of golds at the olympics. I'd say that makes them equals. Plus Russia/USSR have more golds at the World Championships than Canada. Except Canada does hold the slight edge in WJC championships over Russia/USSR.
I say it's debatable to who owns at hockey.
This was Team Canada's 1994 Olympic roster:
Paul Kariya - 19 years old, before he made the NHL
Same goes for the World Championships.