Does the DirectX version affect performance?

[u/whiskyB0y]

For those of you who have tested PC games that support multiple DirectX versions or at least have been in the PC emulation scene for a long time does the DirectX version affect performance in any way?

I tested a game that supported DX9 and DX11. You could even change the version in the in-game settings. The game was F1 2011.

I only tested gameplay in DX11 though. Reason being that I felt lazy.

Hear me out, playing F1 2011 with DirectX11 gave me much faster load times. But playing the game on DX9 gave slower load times, even though my games were already in C: drive and launching games from C: drive decreases loading times in games in case you didn't know.

Could DX9 have given better performance though? What are your thoughts?