NetFlow v5 is limited to IPv4 flows. The selection of fields that can be exported using this version is also limited.
IPFIX — sometimes referred to as NetFlow v10. Two new concepts for stream monitoring are introduced here: firstly, the use of templates is allowed, and secondly, the user has the opportunity to “look” deep enough into the packages and select the fields of interest to him for monitoring. IPFIX allows almost all fields, all types of TCP flags, and other information to be selected from the IP header, including VLAN tags and URLs.
Benefits of IPFIX over traditional NetFlow v5:
flexibility, scalability, and flow data aggregation beyond the capabilities of traditional NetFlow
the ability to monitor a wide range of information about IP packets, from layer 2 to layer 7
user-configurable flow information allowing customization of traffic identification (an opportunity to single out and monitor specific network behavior).