How are iloc and loc different?

Can someone explain how these two methods of slicing are different? I've seen the docs and I've seen previous similar questions (1, 2), but I still find myself unable to understand how they are different. To me, they seem interchangeable in large part, because they are at the lower levels of slicing.

For example, say we want to get the first five rows of a DataFrame. How is it that these two work?

df.loc[:5]
df.iloc[:5]

Can someone present cases where the distinction in uses are clearer?


Once upon a time, I also wanted to know how these two functions differed from df.ix[:5] but ix has been removed from pandas 1.0, so I don't care anymore.

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