Depends on what beers you are comparing, but normally yes. Most light beers are in the 4% ABV range...give or take a few tenths of a percent. The universal average for regular beer is 5%, but there are some exceptions.
Stouts tend to be lower in ABV and average 4% to 4.5%. Lambics are normally low in ABV today and can be 3% in some cases. The difference between 4% and 5% really isn't that much that you would notice.
It is when you start getting into the 8% beers that you notice the difference from drinking only one.
Generally. Most light beer is around 4.5% and most beer is 5% Full vs Light versions: Coors 5 vs 4.2 Corona 4.6 vs 4.5 Bud 5 vs 4.2 Michelob 5 vs 4.3 Miller 5.5 vs 4.2 This is NOT how they lower the alcohol, since going from 5% alcohol to 4.2% alcohol doesn't represent much of a shift, certainly not enough to change the calories significantly. They make the beer differently, and the result is a slightly lower ABV.
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