The boyband and folk act have both been nominated in the 'British Group' category at this evening's ceremony at the O2 Arena in London.
Asked if they think they can win, 1D's Harry Styles told Capital FM: "Not really! I think for us we just feel honoured to be among who's in there, to be honest.
"We think Mumford [& Sons] are going to win it and I think deservedly so. They cleaned up at the Grammys so we think they deserve it, and we're big fans of them as well so it would be great."
Photo gallery - Brit Awards nominees:
One Direction will perform their new single 'One Way or Another (Teenage Kicks)' at tonight's show for the first time live.
The track is on course to become the best-selling Comic Relief single of all time after hitting number one on 63 iTunes charts worldwide.
Watch the latest preview for One Direction's 'One Way or Another (Teenage Kicks)' music video below:
Watch Little Mix, Labrinth and Ed Sheeran chat to Digital Spy at the Brit Awards below: