622a3669___FetchXML_reports_in_CRM_2011__SQL_Reports
[0] Building experience [FetxhXML Reports] CRM comes with a Report Wizard which can be used for building these reports. The report wizard is a web report designer integrated with CRM. These reports can also be designed using BIDS (must download the Report Authoring Extension). [SQL Reports] 
Requires a separate program for designing the report such as SQL Business Intelligence Development Studio (BIDS) or Report Builder.
Gonzalo Ruiz - Dynamics CRM: SQL vs. FetchXML reports in CRM 2011
SQL Reports