Compared to DC in the 2hp size, you'll find that a VFD-AC package is much less expensive. In fact, a new 2 hp dc motor alone may cost in the $1200-2000 range...compared to a about $250 for a 2hp AC motor.
Performance wise, they are very similiar in terms of HP and torque....depending on the specific settings for the drives.
The VFD's offer motor protection in terms of thermal overload which is not available on DC drives...VFD also offer dynamic braking, instant reversing, and a wider speed range with over speed settings several times the motors base speed. VFDs are most costly than a DC drive in the same size....but the trade-off in motor cost make them more affordable as a package...in the 2hp size.
Go with a VFD because the cost, motor protection, and the addition features.
-Rob