Roughly. I've not seen the data for chaeto, but other macroalgae are likely not too far off on a dry weight basis.
I discuss it here:
Phosphate and the Reef Aquarium
http://reefkeeping.com/issues/2006-09/rhf/index.php
from it:
For example, Caulerpa racemosa collected off Hawaii contains about 0.08 % phosphorus by dry weight and 5.6% nitrogen. Harvesting 10 grams (dry weight) of this macroalgae from an aquarium would be the equivalent of removing 24 mg of phosphate from the water column. That amount is the equivalent of reducing the phosphate concentration from 0.2 ppm to 0.1 ppm in a 67-gallon aquarium. All of the other species tested gave similar results (plus or minus a factor of two). Interestingly, using the same paper's nitrogen data, this would also be equivalent to reducing the nitrate content by 2.5 grams, or 10 ppm in that same 67-gallon aquarium.