Does bitcode have the same performance gains from `-emit-llvm -flto=full`? It seems like Clang is better at inlining across compilation units when -emit-llvm is

Does bitcode have the same performance gains from `-emit-llvm -flto=full`? It seems like Clang is better at inlining across compilation units when -emit-llvm is passed, but it also seems to store additional object files in temporary files? Is there a way to tell Clang to put everything it needs per translation unit in one file?