Relatively speaking, no. Wheel size is only a small component of a bikes speed. Smaller wheels have a slightly higher rolling resistance than a larger wheel. But this is only one element of "speed." Small wheels offer several performance advantages: they accelerate faster due to a lower moment of inertia, are more aerodynamic, and lighter. In fact, the world speed record for a bike ridden in an upright position was set on a bike with 18" wheels.
Want the science behind ZiZZO?
Check out how Zizzo rides big!