Yes, similar. Nexus card holders can also use the Global Entry terminals in airports/ports without Nexus terminals. Definitely worth it for saving time alone. I once passed over 100 cars at a Canada-USA land border crossing. You also get to short-cut both the security and customs lines when crossing by air.

The one time I had to declare currency, it was due to a tournament win. I'm not sure that having the Nexus card helped. But having the trophy and the oversized cheque definitely did.