A vfd has one feature not available on a static or rotary. They can safely run a motor bigger then their design size all day long. My lathe came with a 1hp VFd supplying a 3hp motor. It had limits set so the motor actually only made 1hp but it was full rpm and not noticeable except on big heavy cuts where it bogged down. I eventually replaced it with 3hp VFD and used the older unit to run my 1hp mill/drill.
Most home shops will never need more then 3hp except maybe on a wide belt sander.
Bill D