Any additional drag to induce rotation does cause frictional losses and slow the arrow down some. So yes, the more helical, the more offset, the more surface area of fletching - the more drag you get. More rotation, means more stability to overcome planing of a fixed blade broadhead, but you do lose some amount of speed which increases the further out you get from the bow.
If you were to test a reasonably practical example - build two arrows, one with a 4 fletch, offset, helical clamp, 3" length 2" height vs. small straight fletch target vanes, and equalize the weight in the rear of the arrow with a small insert of sorts - you'd see the large fletch arrow drop more as yardage increases. Test it at 30 - probably nothing. Test it at 80 or 100, you'd see it. But, the one with more drag will also give you smaller groups with broadheads.
How much it matters - up to the individual.
The more cross sectional area you have, larger fletching, you also get more wind drift too.