Dynamic Lists and Static Lists

User lists, mailing lists, and generic lists can be either dynamic or static:

Dynamic lists are created at run time, for example, when the list is being exported from List Manager for use in a direct mail campaign. Each time the list is requested, List Manager gathers the most recent data in the Data Warehouse. Only the information needed to create the list is stored in the database used by List Manager. Use dynamic lists for direct mail campaigns that you will run frequently, or for lists of recipients that are updated frequently.
Static lists are created immediately upon request, and then stored in the database used by List Manager. Use static lists for direct mail campaigns that you run infrequently, or for lists of recipients that do not change often.

Additional resources