RCM vs Color space fx

If I want to do a color transform from for example Canon log2 cinema gammut to rec 709, is there a difference between using Resolve color management vs the color space transform fx for this? It looks like both do the same. Are there advantages when using one over the other?

No differences to the transformation results but being able to perform transforms to individual clips can be helpful if you have mixed footage in your project. RCM is global but you can also override individual clip Input Colour Space in the Media tab, so either works really.

I believe RCM came first, then the FX tool was added later so it's easier to work with it on a clip level.

it's the same math.

I like CT OFX better if i have only few clips to convert. (That is almost always my case)