
You really need to use a combination of all three. Mail containing banned words gets deleted first. This consists of more than one rule to make editing easier. Then mail NOT on my list of known trusted addresses gets put in a folder called 'Unknown'. You could call it 'spam' or anything you like.
The last rule also puts any mail not specifically addressed to me in the same folder. I've rolled these two rules into one, but you're better to keep them separate to start with.
If anything appears in the 'Unknown' folder, there's a good chance that it's spam. I can be sure that anything appearing in my Inbox is from someone I know and trust. If any spam does get through with new words, I look for something in the mail that I wouldn't normally find (or the web link address) and amend my rules accordingly.
Screen-shot of my own Mail Rules (your colours may be different)

Ignore the 'Groups' as they are club sorting rules (see Sort Mail)
A Whitelist is a list of emails of the people you're happy to receive mail from. An example of a Whitelist rule:- if any mail is NOT from name1, name2, name3 or name4 etc, move it to the 'Unknown' folder. If mail appears in the 'Unknown' folder which is trusted, add their email to the list.

New box that appears for Rule Condition Options

Create a 'Not My Address' Rule
Use the same method as the previous rule, but tick Where the To line contains people, and in Rule Condition Options - again tick the small circle Message does not contain the people below.

Conclusion
There will always be some spam that gets through your filters because it's encoded or consists of just images, and spammers are always trying to defeat your filters and the professional filters.
See next page on spam examples.