Indeed. They have a little sealed hydraulic capsule in the magnetic circuit. When overcurrent is present, magnetic flux from the coil creates enough force on the ferrous piston inside to overcome a spring, causing it to move slowly against fluid resistance towards one end of the cylinder. When it gets there, its position decreases the magnetic reluctance of the circuit enabling the amount of flux already present to operate the tripping armature. This creates the timed response normally associated with the thermal element of an MCB. If a fault occurs, there is enough flux to cause the armature to trip the mechanism instantly, without having to wait for the hydraulic unit to respond.