No, no they wouldn't. In the UK there are very strict rules about notching or putting holes in wooden joists. Precisely because it weakens them.
Full joist the load is spread through all the fibres of the timber. Drill a big hole in the middle and the load only goes through the top and the bottom fibres. So essentially it's as strong as those two blocks of fibers. So why not make the joist just that thin the the first place then? The answer is because it's nowhere near as strong.
There are various steel, composite and wooden joists with a special frame construction that can have hollow sections. A standard piece of timber with a big hole drilled in the middle of it is not one of them