Is restoring Win10 from recovery USB equivalent to restoring from SSD recovery partition?

As I learned, there are two ways of restoring Windows 10 on my Dell XPS 13:

1. Using recovery partition located on SSD
2. Creating an external USB media with 'Dell OS Recovery Tool'

Are there two approaches equivalent?

Can I, for example, destroy all the partitions on the hard drive and then restore a system to a factory state just using my USB?

Thanks a lot

Dmitry