considering this example:
public static void main(final String[] args) {
final List myList = Arrays.asList(\"A\", \"B\", \"C\", \"D\");
The difference is one method call less for each iteration, so the second version should run slightly faster. Although if you use Just-In-Time compiler, he may optimize that - figuring out that it doesn't change during the loop. Standard Java implementation features JIT, but not every Java implementation does.