A wide variety of interface capturing methods have been introduced for simulating two-phase flows throughout the years. However, there is a noticeable dearth of literature focusing on objective comparisons between these methods, especially when they are coupled to the momentum equation and applied in physically relevant regimes. In this article, we compare two techniques for simulating two-phase flows that possess attractive qualities, but belong to the two distinct classes of diffuse interface (DI) and volume of fluid (VOF) methods. Both of these methods allow for mass-conserving schemes that can naturally capture large interfacial topology changes omnipresent in realistic two phase flows. The DI solver used in this work is based on a conservative and bounded phase field method, developed recently. Similar to level set methods, this diffuse interface method takes advantage of the smoothness of the phase field in computing curvature and surface tension forces. Geometric VOF methods track the fractional tagged volume in a cell. The specific geometric VOF scheme used here is a discretely conservative and bounded implementation that uses geometric algorithms for unsplit advection and interface reconstruction, while employing height functions for normal and curvature calculation. We present a quantitative comparison of these methods on Cartesian meshes in terms of their accuracy, convergence rate, and computational cost using canonical two-dimensional (2D) two-phase test cases: an equilibrium static drop, an oscillating drop, damped surface wave and the Rayleigh-Taylor instability. We further compare these methods in their ability to resolve thin films by simulating the impact of a water drop on a deep water pool. Using results of these studies, we suggest qualitative guidelines for selection of schemes for two-phase flow calculations. (C) 2019 Elsevier Ltd. All rights reserved.