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Functionally... yes... mostly. Of the thousands of coins / tokens supported on both platforms, over 99% of them will work on both. A scant few however won't. Why there is a difference is outlined in the SLIP-10 spec, that Trezor conforms to but Ledger does not. Monero is one such coin.
NOTE:
The number of mentions on this list indicates mentions on common posts plus user suggested alternatives.
Hence, a higher number means a more popular project.