Yup.
Conservation of energy: the kinetic energy of your fall will either be converted to the fiber to fiber frictional heat along the length of the rope (rope stretch), point frictional heat at the points of rope drag, or some combination of the two.
More of the former will obviously reduce your fall factor.
If you used pulleys instead of biners to clip the rope into on lead, you'd fall a bit further and experience the equivalent lower fall factor.