Technically, no.

SPF allows to say “these IPs are authorised to send emails as example.com”, where DMARC allows to say “I as domain owner recommend to quarantine emails that fail SPF and DKIM”, it also allows finer alignment (ie, matching between different “from” parameters) configuration and reporting by the receivers.

Of course, with absence of DNARC policies, receivers default to some internal defaults, or may ignore the policies altogether. But at least, the big ones send DMARC reports.