IMO it is the amount of surface contianing blood carrying vessels, veins and capillaries that create the greatest bleeding. (A pair of collapsed lungs help greatly.)
All things being equal in size, depth of penetration and shoot placement the three bladed will cut the most. This will be of greater importance in a misplaced shot over a perfect shot.
The issue boils down to arriving at that placement and penetration depth. Which broadhead with your set up and your ability is going to get you there time after time must come first.
Further, if the shot is good and is a double lunger, it' s comes down to a matter of yard from impact to recoverary.
If you can make that hit with a larger multi-blade fixed bladed broadhead consistantly you are going to have more bleeding than with any other type.