The photos below compare the fading of fabric prints made with dye based inks (from a Canon 7000 printer, top), and prints made with pigment based inks (Epson 2100, bottom).

The test started in January 2003. I made two prints from each of the two printers. One print from each of the printers have been kept in the dark. The other two prints were mounted on cardboard and have been standing on a windowsill exposed to daylight and direct sunshine. the photos below were taken in February 2007, four years after the test started.
The two prints from each printer were placed side by side and photographed. The prints that were kept in the dark are to the left in both pictures.

I think these photos speak for themselves regarding which ink type fades the most.

Usually we do not let a quilt hang in a window year after year, so in a real situation the fading of the dye based ink would not be as dramatic as this over the same amount of time. However, when looking at previous tests, one can detect fading after a very short time, so some fading must be expected to occur over the years when using dye based inks.