Not necessarily. I'm not an expert in medieval stuff, but from what I know medieval shields, from early ages to high medieval ages, usually weight up to 5-6 kilos (or 10-12 pounds) at the most and 3 kilos (7 pounds) on average. I train regularly and weights like that are child's play to me, and would likely be even more so to a trained footman or knight. Especially when you can put your entire arm into keeping it up.
Indirectly, yeah. The average medieval soldier, including the plate armour knights, had around 40 pounds worth of armour that they were trained to wear while they swung their swords and held up their shields, which is actually considerably less than the, what, 90 or so pounds of equipment soldiers nowadays have to wear?
It's amazing just how much a soldier's equipment can weigh, but at least in the medieval days they managed to keep themselves around the 50 pound limit where you don't run the risk of lasting damage just from wearing the stuff.
Mostly because swords, shields, and spears didn't need any ammo, nor did they need grenades, radios, lunches, sidearms, and whatever other stuff they carried in their backpacks and countless pockets XD