Your hunch is spot on.
As a rough guide breastmilk has 22 calories per oz while formula has 20 calories per oz. However this is an average for breastmilk because at certain times of day the fat content could be more or less.
Breastmilk has a average of 1.2 g of fat per oz and formula contains 1.06g.
However what is more significant is that breastmilk is absorbed very efficiently by the body - this is why a healthy breastfed baby can go a week or more without pooing and this isn't considered a problem, there's just very little waste.
All this means that YES you will expect your baby to take less breastmilk in comparison to formula.
The Pocket Guide to Breastfeeding and Human Lactation (Riordan and Averbach) [a guide used by doctors and health professionals] says:
Average infant breastmilk intake:
Birth to 24 hrs: quarter oz
24hrs-2 weeks: 1 - 1.5 oz
2 weeks - 1 month: 1-3 oz
1-2 months: 2-3 oz
2-4 months: 3-4 oz
4-6 months: 4-5 (It stops there).
So less than formula quantities for those ages.
HTH