I'd imagine so. Blades are meant to cause lacerations, making them proficient in causing literal flesh wounds. Maces/hammers deal what I'd call impact damage, which would basically be shock damage that is transfered from the momentum of the mace>the armor>the wearers body. This causes minimal damage to flesh but does critical damage to internal organs, and the like, over a wider impact radius. That covers why each are good at what they do.
Blades are not very good against armor because it normally rebounds/glances off and has a hard time penetrating.
Maces/hammers generally are not as good against flesh because they are normally duller and without the target wearing armor the impact does not spread as far, although it does do decent damage...think off hitting your finger with a hammer. Now if your finger was armored (yeah, I dunno how that'd be but it's just an example
) that pain would be spread out towards the center of your hand more.
This is just based from my basic knowledge of weapons, from fencing and various CQC courses with people I know, and can be wrong. I do think it is right though, but I'm never sure >.>
Hope this helps a bit at least