No, similar concepts but Equity Residences offers a better value. I Included the Hyatt Vacation Club since it's a club style program, not a timeshare.

Equity Residences has three funds
1) Equity Villa Fund - This fund is currently being liquidated and not accessible for partner stays. Looks like they will be get their original investment back plus another approx 50% in gains when the fund closes after all the properties are sold.
2) Platinum Fund is closed with 23 properties
3) Platinum Fund II is the current fund with 5 properties and one in development, will eventually have 20 ish properties. You have access to Plat Fund and Plat Fund II properties with your credits. You have access to all Platinum Fund II on a 30 day space available window without using your credits.

You also have the ability to transfer credits to their partners, Elite Alliance (120+ properties) and ThirdHome (over 17,000 properties in 100 countries)

Kevin