If I absolutely had to choose one, to last birth to toddler, it would be a woven wrap. One of the thick, forgiving ones like a didymos.
Ideally, I would find a way to have a ring sling and stretchy-wrap for a newborn and then a woven wrap and mei-tai once they get older. I used the ring sling with DS as a little baby, then not so much as an older baby, then it came into it’s own again when he was a toddler and kept wanting up and down. Ring slings are pretty easy to make, or cheap to buy from a WAHM. Meitais are fairly cheap from WAHMs too - Etsy has some reasonably priced ones. For stretchy wraps, I had a Kari-me and it was fab, but Moby does some very pretty ones