No, but somewhat similar end result if you use a SERM like enclomiphene (with one exception of estradiol levels being different). An aromatase inhibitor will cause testosterone levels to rise, and an excessive amount of inhibitor will tank estrogen levels if aromatase is inhibited too much. So it sounds like ideally, the SARM would avoid the negatives associated with increasing endogenous testosterone.

Edit for clarity: Lowering the (male) body's estrogen causes production of more testosterone, as the body uses estrogen level to determine how much testosterone to produce. Reduce conversion of testosterone using aromatase inhibitor, body has lower estrogen, and makes more testosterone. Trick body into thinking there is less estrogen using SERM, body makes more testosterone, and you end up with somewhat elevated estrogen.