Link reliability and enhanced coverage are the primitive concerns of Low-Power Wide-Area Networks (LPWANs) for suitability to critical Internet of Things (IoT) applications. Reliability is limited by the destructive multipath propagation, data rate and sensitivity, that ultimately limits the coverage range. LoRa by far is the predominant LPWAN operating on unlicensed spectrum. Despite its robust Chirp Spread Spectrum (CSS) modulation, there is a severe degradation in its error performance particularly in hostile propagation environments, and an excessive reduction in coverage. Rotating Polarization Wave (RPW) is a potential LPWAN recently emerged to achieve a highly reliable IoT and Machine-to-Machine (M2M) communication. This is the first paper to provide comprehensive error performance comparison between LoRa and RPW. Okumura-Hata model is used for median path loss calculation. Shadowing and fast fading margins of RPW and LoRa are estimated. Effective gain of RPW is computed from error performance. Results have shown that LoRa offers a sensitivity of 23 dB higher than RPW under AWGN conditions. However, under fading conditions, RPW exhibits a sensitivity of 15 dB higher than LoRa. At a reference distance of 100 m, the maximum received signal strength of RPW is -39 dBm, which is 29 dB above LoRa. The maximum coverage distance attained by RPW is 15 km, which is 1.5 times of LoRa.