On my Mac, F11 is Volume Down. They keep changing this based on machine model and keyboard model, it seems.
You do one by pressing the key, and the other by pressing it with the Fn modifier key. Which one is default depends on a pref setting in Keyboard & Mouse > Keyboard Shortcuts.
Personally, I set it to use the F[0-9]+ keys as function keys, and use the Fn modifier to access the volume etc.