What are the differences between these two approaches of caching (set up through web.config file)?

<caching>
  <profiles>
    <add extension=".php" policy="DisableCache" kernelCachePolicy="DisableCache" />
    <add extension=".html" policy="CacheForTimePeriod" kernelCachePolicy="CacheForTimePeriod" duration="7:00:00" />
  </profiles>
</caching>

and:

<staticContent>
  <clientCache cacheControlMode="UseMaxAge" cacheControlMaxAge="7.00:00:00" />
</staticContent>

If the first one has img/css/js extensions added, would both work the same way?

Thank you!