Low-end Lumia's run the same as high-end Lumia devices, as Windows Phone OS is well optimised. Similar with Apple and iOS devices, with an exception to installing iOS 9 on an iPhone 4.
Low-end Android are sluggish compared to high-end Android devices. I can compare my Low-end Phone to High-end Tablet, and there is a noticeable difference in performing tasks, despite the Android Tablet being 6 months older.