No, true female ejaculate is typically a thick milky fluid that is released from the Skene’s glands. It contains components similar to those found in male semen. It also contains some components of urine (urea and creatinine), but these are in much lower concentrations. The fact that female ejaculate contains small amounts of urine’s major components doesn’t make it the same as urine. It just means it is similar to urine in some ways.