UPDATE
ing requires starting a transaction, then keeping a write-ahead-log of the changes that the update would make, then ensuring that succeeds before then writing changes back to the main table, and then ensuring all of that completes successfully...
SELECT
ing is reading then doing a simple "in memory if" to swap the values over for each row... so it's bound to be faster (plus disk reads are almost always a lot faster than disk writes (which a SELECT really doesn't require))...