Even if you take into account accuracy?
Level 1: Average monster AC is 13:
Wizard (INT 16): +5 to hit, Chance to hit 65%. So average damage 3.58
Fighter (Dex 14): +4 to hit Chance to hit 60%. Average damage 3.9
Fighter is ahead here, but not by much (not going to have a +1 bow yet)
Level 5: Average monster AC is 15
Wizard (INT 18) +7 to hit, Chance to hit 65%, Average damage (assuming no Int added) 7.15
Fighter (Still Dex 14) +5 to hit, chance to hit 55%, Average damage 7.15
Wizard has pulled level, using a cantrip.
Assuming the fighter gets a +1 Bow (a weapon that's not his primary focus but ok)
+6 to hit, chance to hit 60%, average damage 7.8, higher - but not by much.
Level 11: Average monster AC is 17
Wizard (Int 20) +9 to hit, Chance to hit is 65%, Average damage is 10.73
Fighter (Dex 14) +7 (Assuming he actually got a +1 bow), Chance to hit 55%, average damage is 10.73
So par, even assuming a magic weapon.
I don't think that's favorable to the fighter at range. The wizard has many, many other options if he so chooses - the fighter does not without outside conditions.
This was pretty quick and dirty - welcome anyone checking my math.