Help what's the difference between factory reset and clear storage?

[EazySteve]

When you do the hold volume down and power these 2 options are there and I don't know the difference between the 2? Clear storage and factory reset

 

[dontpanicbobby]

A Factory Reset clears all data including contacts from your device. Clear Storage I'm unfamiliar with, I have never seen that option.

 

[EazySteve]

I attached a photo of it. I have no idea what the difference is from what I have googled so far?