Benefits of Clustered File Server vs Clustered VM

Hi,

I'm running a 3 node Hyper-V Cluster with around 12 VM's. I'm looking at building a new file server and am having trouble understanding what benefits creating a clustered file server has vs creating a clustered VM and running the file server role? 

This is just to store user files. 

Thanks for any feedback.

Cheers

Nathan

NaZz