Yes, there is a difference. Html.ActionLink
generates an <a href=".."></a>
tag whereas Url.Action
returns only an url.
For example:
@Html.ActionLink("link text", "someaction", "somecontroller", new { id = "123" }, null)
generates:
<a href="/somecontroller/someaction/123">link text</a>
and Url.Action("someaction", "somecontroller", new { id = "123" })
generates:
/somecontroller/someaction/123
There is also Html.Action which executes a child controller action.
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