I think the answer is yes and no. By which I mean a grafted tree has a fully developed root system and can start growing vigorously from the moment the graft takes, while a rooted cutting might take a whole year or more before its roots are sufficient to support vigorous growth. I successfully rooted a mandarin cutting this spring, as documented here:
That plant is still much smaller than seedlings that I started this spring, and maybe a third the size of the successful grafts I did. There’s no way it will be large enough to support fruit for at least a few years, even if it might flower and set fruit.