Local Fourier analysis (LFA) is a classical tool for proving convergence theorems for multigrid methods (MGMs). In particular, we are interested in optimal convergence, i.e. convergence rates that are independent of the problem size. For elliptic partial differential equations (PDEs), a well-known optimality result requires that the sum of the orders of the grid transfer operators is not lower than the order of the PDE approximated. Analogously, when dealing with MGMs for Toeplitz matrices, a well-known optimality condition concerns the position and the order of the zeros of the symbols of the grid transfer operators. In this work we show that in the case of elliptic PDEs with constant coefficients, the two different approaches lead to an e...