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Default VLookup vs. Match/Index

Can someone please explain the difference between Vlookup and Match/Index.
The formula I am using is a vlookup (see below)--but I am wondering if using
another formula (match/index?) would be better.

The formula works but if a column is inserted it would skew the result. Any
advice?

=IF(ISERROR(VLOOKUP($B15,Gd.5U1!$B$14:$BC$153,26,F ALSE)),"",VLOOKUP($B15,Gd.5U1!$B$14:$BC$153,26,FAL SE))
 
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