Design Web Format (DWF) represents 2D/3D drawing in compressed format for viewing, reviewing or printing design files. It contains graphics and text as part of design data and reduce the size of the file due to its compressed format. The reduced file size makes the distribution and communication of rich design data efficient. DWF doesn't require the recipient to know about the usage of CAD software that created the original drawing.
Portable Document Format (PDF) is a type of document created by Adobe back in 1990s. The purpose of this file format was to introduce a standard for representation of documents and other reference material in a format that is independent of application software, hardware as well as Operating System. PDF files can be opened in Adobe Acrobat Reader/Writer as well in most modern browsers like Chrome, Safari, Firefox via extensions/plug-ins.
You can also convert DWF into many other file formats. Please see the complete list below.