In the modern theory of wings, a sloop (to weather) is a single slotted airfoil, a cutter is a double slotted airfoil. Slots are high lift, high drag devices. It may allow you to generate more lift when you don't have enough, but at the cost of drag; drag always increases the most efficient pointing angle. Absent other considerations, you would not see a slot on a boat designed to go to weather - but the other considerations are many.