Difference between quality of iPhone HEIC and JPG image format

Hi, what is the difference between the quality of iPhone HEIC and JPG image format ? Are photos in HEIC format better optimized ?

HEIC is an abbreviation for High Efficiency Image Container. It uses advanced compression technology, which allows to get lower-sized photos at comparable and in some cases even better quality than JPG. HEIC format also supports 16-bit color, 4K, 3D and transparency.

iPhones have HEIC as default file format for saving photos since iOS 11. HEIC is in general considered as a high quality image format.