What is the difference between android:onClick in xml and setOnClickListener?

Button btn = (Button) findViewById(R.id.mybutton);

btn.setOnClickListener(new View.OnClickListener() {
    @Override
    public void onClick(View v) {
        myFancyMethod(v);
    }
});

// some more code
public void myFancyMethod(View v) {
    // // does something very interesting
}


<?xml version="1.0" encoding="utf-8"?>
<!-- layout elements -->
<Button android:id="@+id/mybutton"
    android:layout_width="wrap_content"
    android:layout_height="wrap_content"
    android:text="Click me!"
    android:onClick="myFancyMethod" />
<!-- even more layout elements -->