More or less, though it's such an umbrella term at this point that a self-described "evangelical" may disclaim Protestant identity, not having an awareness of the historical link and intending to convey that they don't feel aligned with a Protestant denomination such as Presbyterian, Methodist, Baptist, etc. I've met many Evangelicals who said something along those lines when the subject came up in conversation.
Evangelicalism and Fundamentalism are distinct and relatively recent (18th and 19th century in origin) strands within Protestantism (both being particularly prominent in the US.) They aren't equivalent to Protestantism.
