Information Retrieval (IR) approaches, such as Latent Semantic Indexing (LSI) and Vector Space Model (VSM), are commonly applied to recover software traceability links. Recently, an approach based on developers' eye gazes was proposed to retrieve traceability links. This paper presents a comparative study on IR and eye-gaze based approaches. In addition, it reports on the possibility of using eye gaze links as an alternative benchmark in comparison to commits. The study conducted asked developers to perform bug-localization tasks on the open source subject system JabRef. The iTrace environment, which is an eye tracking enabled Eclipse plugin, was used to collect eye gaze data. During the data collection phase, an eye tracker was used to gather the source code entities (SCE's), developers looked at while solving these tasks. We present an algorithm that uses the collected gaze dataset to produce candidate traceability links related to the tasks. In the evaluation phase, we compared the results of our algorithm with the results of an IR technique, in two different contexts. In the first context, precision and recall metric values are reported for both IR and eye gaze approaches based on commits. In the second context, another set of developers were asked to rate the candidate links from each of the two techniques in terms of how useful they were in fixing the bugs. The eye gaze approach outperforms standard LSI and VSM approaches and reports a 55 % precision and 67 % recall on average for all tasks when compared to how the developers actually fixed the bug. In the second context, the usefulness results show that links generated by our algorithm were considered to be significantly more useful (to fix the bug) than those of the IR technique in a majority of tasks. We discuss the implications of this radically different method of deriving traceability links. Techniques for feature location/bug localization are commonly evaluated on benchmarks formed from commits as is done in the evaluation phase of this study. Although, commits are a reasonable source, they only capture entities that were eventually changed to fix a bug or resolve a feature. We investigate another type of benchmark based on eye tracking data, namely links generated from the bug-localization tasks given to the developers in the data collection phase. The source code entities relevant to subjected bugs recommended from IR methods are evaluated on both commits and links generated from eye gaze. The results of the benchmarking phase show that the use of eye tracking could form an effective (complementary) benchmark and add another interesting perspective in the evaluation of bug-localization techniques.