It was both of them when I grew up, with Quick drank 3-1. It has been Ovaltine for some time. Whether it is the regular or malt flavor does not matter as I have a jar of malt that I can add. There is chocolate syrup and I can mix some or all together for my milkshakes.
When it comes to chocolate milk, it seems that the best and richest type is in the cartons next to the regular stuff.