The high-power phosphor-converted white LEDs (PC-WLED) are emerging in their use in general applications because of their high luminous efficacy and wide range of controllability. However, it is fact that the temperature and current significantly impact LEDs photometric and colorimetric characteristics. LED manufacturers catalogs do not include LEDs performance characteristics under real operating profiles. It is essential to know that manufacturers make LEDs with a wide range of correlated Color Temperature (CCT), Color Rendering Index (CRI), and various power ranges. Importantly the LED manufacturers produces the high power LEDs of the same power with different current ratings. Thus, the luminaire manufacturers have wide options of choosing LEDs for Luminaires. However LED luminaire designers are more concerned about the reliability under real operating profiles which is lacking in manufacturer information. The study presents a comparative study on commercially available warm and cool white LEDs of the same power with different current ratings in market Ten samples in each category are used for the study. Both photometric and colorimetric characteristics of LEDs are measured at different driving currents and cold plate temperatures. The results are analyzed and compared their key performance indicators which are contributing to the reliability of LEDs.