Short answer: use str2func.
Benchmark
N x.
f='a^x+exp(b)+sin(c*x)+d';
Ns = linspace(1, 1000, 20);
timeEval = zeros(size(Ns));
timeEvalHandle = zeros(size(Ns));
timeStr2func = zeros(size(Ns));
for i=1:length(Ns)
N = Ns(i);
timeEval(i) = timeit(@() useEval(f, N));
timeEvalHandle(i) = timeit(@() useEvalHandle(f, N));
timeStr2func(i) = timeit(@() useStr2func(f, N));
end
figure
plot(Ns, timeEval, 'DisplayName', 'time eval');
hold on
plot(Ns, timeEvalHandle, 'DisplayName', 'time eval');
hold on
plot(Ns, timeStr2func, 'DisplayName', 'time str2func');
legend show
xlabel('N');
figure
plot(Ns, timeEval./timeStr2func, 'DisplayName', 'time_{eval}/time_{str2func}');
hold on
plot(Ns, timeEvalHandle./timeStr2func, 'DisplayName', 'time_{eval handle}/time_{str2func}');
legend show
xlabel('N');
figure
plot(Ns, timeEvalHandle./timeStr2func);
ylabel('time_{eval handle}/time_{str2func}')
xlabel('N');
function y = useEval(f, N)
a = 1; b = 2; c = 3; d = 4;
for x=1:N
y = eval(f);
end
end
function y = useEvalHandle(f, N)
a = 1; b = 2; c = 3; d = 4;
fHandle = eval(['@(x, a, b, c, d) ' f]);
for x=1:N
y = fHandle(x, a, b, c, d);
end
end
function y = useStr2func(f, N)
a = 1; b = 2; c = 3; d = 4;
fHandle = str2func(['@(x, a, b, c, d) ' f]);
for x=1:N
y = fHandle(x, a, b, c, d);
end
end

str2func vs eval ( ): , , 50% str2func, eval ( ). str2func 100 ( , ).
str2func vs eval ( ): eval 100% , str2func , (eval ~ 5% ).
eval : , eval 50% , .
: str2func , eval.