By compete I mean to compete in utility and general use, not in a duel. Fencing sword is of no use when you get whacked at the back of your head. It’s also relatively useless on a battlefield, from which I presume it occupied mostly the same space the clubs did - streets and roads.
I won’t argue on weight distribution influence. Sharp object balanced near the handle doesn’t need much of a swing to render my arms unusable. A mace simply cannot do that, its utility lies elsewhere.
PS: I would love to see a skilled fight using a thrusting sword and a mace. Thrusting swords don’t have a cutting edge, which makes it possible to grab and grapple them aside. I imagine the moment your opponent grabs your sword and swings their club presents quite a pickle.