Basically yes. That is the principle advantage to a JHP. The copper jacket is tough and arrests expansion at a certain point which allows the bullet to carry deeper than it would if allowed expand freely. This is why for example the 158 grain XTPHP at 357 mag handgun velocities (like ~1250 FPS) penetrates ~20" but expands more modestly to about .550-.6. The MiHec Hammer 359 CHP with the small HP pin casts up around 162 grains checked and lubed. It expands to ~.65 and goes about 16" deep at 1200 FPS. The same bullet going 1600 FPS (same load of 13.5 grains of 2400) from a rifle shears off the HP walls and breaks up leaving a core and fragments at about 8-10" deep (BAD PERFORMANCE for deer) while the XTP holds up better. But even the XTPHP blows up at 1900 FPS. At that velocity you want to use the XTPFP (flat point) or cast solid.Do the typical defensive JHP's like XTP's, Gold Dots, etc offer a wider range of "effective' velocities than cast bullets?
This also means that potentially a CHP can outperform the JHP since it can expand to its greatest potential and generally has 99% weight retention as it is monolithic, so you end up with potentially the largest and cleanest wound channel. There are many things at play here, and honestly, I would test before I would trust a cast hollowpoint. I can tell you strait up that hollowpoints (cast or jacketed) are going to outperform soilds (cast or jacketed) at handgun velocities. It really needs to be rippin to get a reasonably hard alloy to expand in a solid. I'd imagine that a soft cast (like 32:1) at full power 357 could expand...but accuracy and leading would be bad.
With handguns which are used a short ranges where normally the projectile is going to be going close to what the MV is then CHPs work great. That narrower window of velocity isn't much of a problem.
Rifles needs to work at a greater velocity range since they work at a wider range of distances from target. The spread between MV and impact velocity can be significant and it is important that the projectile work properly at both.
With bottleneck rifle cartridges like 30-30/ 35 Rem the velocity and BC can be sufficient that the solid boolit will work well at both the muzzle (2000 FPS or so) and at 150 yards (1600 FPS or so).
The straight wall cartridge in some ways requires more careful consideration of the boolit. With 357 Mag for example I use the 180 grain XTP in any place I expect there a possibility of a long shot (150 yards) because I know it will hold together at 1700 FPS and still expand at 1100 FPS. If I am hunting a place where a long shot is unlikely, then I use the solid cast boolit (which actually outperforms the XTP in terms of weight retention, expansion, and depth). It expands beautifully a 1800 FPS (muzzle) and well enough at 1500 (75-100 yards).
As far as "defensive" matters go there are other considerations to be made which I think favor the use of JHPs, particularly if the handgun is a bottom feeder.