Folks do it both ways. One isn't necessarily better than the other.
I personally cut my arrows one inch longer than my draw length and tune with point, insert and adaptor weight and modifications to the bow side plate.
Couple of reasons I prefer my arrows no longer than they need to be. In a bow quiver, the nocks of longer arrows often stick into and get filled with dirt when I lean my bow against a tree. Longer arrows in a bow quiver create a larger flagging movement when the bow is moved, making it a little easier for animals to catch the movement. Finally, it just takes a little more movement to maneuver the arrow from the quiver to the string. None of these are deal breakers. Just the reason I prefer shorter arrows.
Lots of folks prefer longer arrows because it gives them extra weight. It reduces the gap size for gap shooters, etc. Advantages and disadvantages to each.