They will be exactly the same. The literal is interned (any compile time constant expression that results in that string shares the same instance as all other constants/literals) in both cases and a smart compiler+runtime should have no trouble reducing both to the most optimized example.
The advantage comes more in maintainability. If you want to change the literal, you would need only change one occurrence with a constant but you would need to search and change every instance if they were included inline.