Engineered wood like LP SmartSide gives you a real wood look with much better rot resistance than the cedar it replaces. It paints well and holds a color a long time.
Fiber cement like James Hardie is heavier, harder, and more expensive. It is essentially fireproof and it is the longest lasting product in the category.
Insulated vinyl has come a long way. For the money it is very hard to beat, and modern profiles look far better than the vinyl of twenty years ago.