Does lower fps shrink the file?

Usually yes; fewer frames means a smaller GIF.

Change GIF Frame Rate

Re-time a GIF to a target frame rate.

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Change how many frames per second a GIF uses: lower for smaller files, higher for smoother motion. Runs in your browser.

Select or drag and drop your media file into the Change GIF Frame Rate tool above. Your file is processed directly inside your browser using WebAssembly.
Configure your desired settings, conversion presets, or editing controls for the selected media.
Process your file locally and preview the result in the interactive player or canvas viewer.
Click Download to save the finished file directly to your device with no watermarks, accounts, or file size limits.

Does lower fps shrink the file?: Usually yes; fewer frames means a smaller GIF.

Other private, in-browser tools you might need.

Shrink a GIF by reducing its color palette.