Difference Between `S.equivalence` and `Equal` Trait in Effect TS Library

export class PaymentMatchRequest extends S.TaggedClass<PaymentMatchRequest>(
  "PaymentRevenueMatching/PaymentMatchRequest",
)("payment", {
  clientId: S.String,
  identifiers: S.Array(S.String),
  period: Period,
}) {}

const Eq = S.equivalence(PaymentMatchRequest);

const a = new PaymentMatchRequest({
  clientId: "foo",
  identifiers: ["bar"],
  period: { start: new Date("2025-01-01"), end: new Date("2025-01-02") },
});

const b = new PaymentMatchRequest({
  clientId: "foo",
  identifiers: ["bar"],
  period: { start: new Date("2025-01-01"), end: new Date("2025-01-02") },
});

const equals = Eq(a, b); // holds true