vmkfstools -i will clone the disk to the exact size . but again we could change the descriptor value and then clone which would result the disk size to be shrinked. but its not advisable and could result in corruption.
I would recommend to use the VMware converter ( free software from VMware ) which is the best option. And the best part you can do it on the fly. where as vmkfstools would require a downtime.
Thanks,
Avinash