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FXG is an XML-based interoperability format. It enables design software, such as Illustrator or Photoshop, to export their assets so that they can be easily shared between those aforementioned products and Flash Catalyst and/or Flash Builder, and as such, can be used to create interactive visual assets for use within Flex.
MXMLG differs from FXG because it can be rendered at runtime, which enables you to change any of its values on-the-fly through associated component hooks or CSS. FXG is better for static graphics (for example, those that don’t need to be altered by user input or rerendered at runtime). Both support an almost identical set of properties, which include the following: