No they're not. If I need a fixed size "collection" I'll always choose an array instead of an ArrayList. An ArrayList uses an array internally (hence the name), and this array is always at least as big as the size of the List. Most times it's bigger though, so most of the time you're wasting array space.
Now that doesn't matter if you know you will use part of that wasted space later on, but if you know you won't an array is just as easy.