Mostly maybe, but it might depend on the terrain and how hard you choose to push it. I can remember some pretty challenging hikes and some pretty easy rides.

These days I get most of my exercise riding. My dog has aged out of any walks that are at all demanding and running is out of the question. She was my trail running and hiking buddy for years. We ran quite a few thousands of miles together. These days I offer her a walk three times per day. On a really good day she will walk around the block two of those times. Some days she will decline two or all three. In that case she lays in the grass in the front yard at walk time and watches the neighbors go by while we sit in the adirondack chairs.

I love my bike, but I'd give up riding in a heartbeat to be able to trail run and hike with her again. She was am awesome trail dog.