I think you might need to qualify which country you are talking about.
In the US, where both bread and peanut butter are both hyper-processed, then no.
US bread is very different from European bread. Outside of the general quality of the key ingredients, and banned fillers and preservatives, US bread has huge amounts of sugar.
Similarly, the quality of peanut butter is very different. In particular, there's a push against the use of palm oil in peanut butter.
So, while it's probably not optimal for long-term nutrition in either case, I think where you are getting the food from probably makes a difference.