No, type 1 is subdivided into multiple types, and none of them involve removing part of the shaft. Given the biological equivalents, there's nothing like removing the shaft itself. Type 1a removal of just the clitoral hood. This is biologically analogous to circumcision. Type 1b is the removal of the clitoral hood and the clitoral glans. This is the same as removing the foreskin and the head.
Even type II can be classified in many ways, some of which are not as horrid as FGM is generally portrayed (though still bad). Type IIa is removal of the inner labia; IIb, removal of the clitoral glans and inner labia; and IIc, removal of the clitoral glans, inner and outer labia. And the labia offer similar functions as the foreskin (protection and secondary sexual stimulation/functions).
Of course, then there's the type performed in most of Oceania region, which is literally just a pin-prick of the clitoris (with or without drawing blood) in a religious ceremony, that the WHO groups with cauterization of the clitoris...because that's a good way to classify things honestly.
The fact is that many forms of FGM are equivalent to circumcision or are not as bad, and many other forms are much worse. It's far more complex than the "Well, FGM is worse" that is generally said in response.