Performance wise ArrayList is fast in comparison to Vector as ArrayList is not synchronized.
ArrayList, by default, grows by 50% in case the initial capacity is EXHAUSTED. In case of Vector the backing array's size is doubled by default.
For TRAVERSING an ArrayList iterator is used. For traversing Vecor Iterator/Enumerator can be used. NOTE that Iterator is fail-fast for both Vector and ArrayList. Enumerator which can be used with Vector is not fail-fast.