What is the best way of using Arrays.asList() to initialize a List

I use this below code. Both are working fine in my application.

Case 1.

List<String> coreModules =
    new ArrayList<String>(Arrays.asList(
        "TOOLBAR_TO_DO_LIST",
        "TOOLBAR_PROPERTY",
        "TOOLBAR_PEOPLE",
        "TOOLBAR_INSURANCE",
        "TOOLBAR_BATCH",
        "TOOLBAR_INFORMATION_REFERENCE",
        "TOOLBAR_LR_PROPERTY",
        "TOOLBAR_CASE_FOLDER",
        "TOOLBAR_INSPECTION_RESULT",
        "TOOLBAR_MY_OFFICE"));

Case 2.

List<String> coreModules =
    Arrays.asList(
        "TOOLBAR_TO_DO_LIST",
        "TOOLBAR_PROPERTY",
        "TOOLBAR_PEOPLE",
        "TOOLBAR_INSURANCE",
        "TOOLBAR_BATCH",
        "TOOLBAR_INFORMATION_REFERENCE",
        "TOOLBAR_LR_PROPERTY",
        "TOOLBAR_CASE_FOLDER",
        "TOOLBAR_INSPECTION_RESULT",
        "TOOLBAR_MY_OFFICE");

But I have some questions:

1. Which one is better one performance-wise?
2. In which case prefer Case 2?