No, after a critical change in political leadership (LBJ -> Nixon, and for that matter the general in charge, Westmoreland -> Abrams), we won, and the first attempt by the NVA to invade the South was utterly crushed, with only 40,000 of the 150,000 invaders managing to get back north, losing their equipment, which included more tanks than used in any single WWII battle. That was an achievement of the ARVN with air support from the US (the South had and used their own, BTW).
Of course the second invasion succeeded, because the US Congress by then was on the other side and had defunded the South, as I recall ammo was so low an infantryman had 1 grenade and less than 100 rounds.
Side note: the cost of outfitting the North with 3 complete armored/mechanized armies (first used up piecemeal, second in that first invasion failure) is now credited with helping to bankrupt the USSR.