There are not comparable afaik. WASM is also more ambitious, along with WASI (system interface) creating a portable final executable (compare to JVM), whereas LLVM is only a set of intermediate language and tools.
When this transition period goes away, LLVM should hopefully compile to WASM binary as a target. The current path described in the video of WASM -> C -> clang -> llvm -> native-binary is a temporary workaround afaik.
Yes, I agree. Wording wasn't right. What I meant was that it is trying to define a universal target with runtime system interface and such. The only reason I drew a comparison was that both are trying to bring standardization, but in different contexts.