Slightly but not just plain so.

For example, a lot of phenotypes would get classified as "black" in the American race structure, and "white, somewhat mixed" in the West European one. In the US, there's a category called "Asian" with covers both East and South Asians. Two people in the US with the same ancestry and physical appearance may get classified as either white or Native American depending on their ties with a tribe. And so on.

Sure, "race" divides people according to physical appearance, ancestors, and culture, so it has a strong genetic component. But it's not solely genetic, and inasmuch as it is, it's still bad genetics, like the distinction between fish-and-dolphins and mammals is bad taxonomy.