Normal wood stain on exterior fence

A neighbor of mine just stained his exterior wood (PT) fence with regular minwax stain. I've never seen anybody use regular wood stains that's translucent and penetrates the wood but shows the knots etc (a rich honey maple color) on an exterior fence. It looks amazing, but I'm wondering.. will that stain last? To my knowledge there is no wood preserve in the stain? Nonetheless I think it will last as it penetrated deep into the wood.
By comparison, another neighbor stained using one of those protective stains especially forumated for fences and desks. The color is nowhere as nice though.
Any thoughts? comparisons?
My thing is I want a rich wood tone and can't find that in the Protective spray ons stains.
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

Minwax Interior? If so it will look bad and need redoing with an exterior stain
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

HomeOwnersHub.com is a website for homeowners and building and maintenance pros. It is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.