Quantifying the performance bound of an integrated localization and communication (ILAC) system and the trade-off between communication and localization performance is critical. In this letter, we consider an ILAC system that can perform communication and localization via time-domain or frequency-domain resource allocation. We develop an analytical framework to derive the closed-form expression of the capacity loss versus localization Cramer-Rao lower bound (CRB) loss via time-domain and frequency-domain resource allocation. Simulation results validate the analytical model and demonstrate that frequency-domain resource allocation is preferable in scenarios with a smaller number of antennas at the next generation nodeB (gNB) and a larger distance between user equipment (UE) and gNB, while time-domain resource allocation is preferable in scenarios with a larger number of antennas and smaller distance between UE and the gNB.
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