"Move to" vs 'Label as" in Gmail

Both require you to create a label first. 

The difference: 

- LABEL AS: 

The email will: 

(1) be found inside the Label in the left-hand pane, and 

(2) will remain in the main incoming email list, but will have the label added to the left of the message. 

- MOVE TO:

The email will be entirely moved to the label on the left-hand pane. It will not appear in the main incoming emails list.