Object List Reference Not Equal

Not Equal - Although is not equal , but when update it still will reference

List<Person> personList1 = new List<Person>(upc.personList2.ToList());

Not Equal and Not Reference

List<Person> person = upc.personList2.Select(x => new Person

{

     Name = x.Name,

     Address = x.Address,

     Phone = phone,

}).ToList();