They are functionally the same, there is nothing you can do in one you can't do in the other, and for the future Microsoft have pledged that the language teams will develop both evenly so this is equivalence unlikely to change.
The differences now are purely cultural and personal. This article is interesting reading on the differences between the cultures of programmers using C# and VB.net
[Note: Although I'm a C# dev myself, the linked article's conclusion does not necessarily reflect my personal opinion, it's just an interesting alternative approach in the debate]