Battery life vs Transparency on/off

So I have a iPhone 5c 8GB with iOS 10.3.3.

I would like to know if the option "Reduce Transparency" really saves battery life.

I have been searching a lot and a lot of people say it but i never saw any confirmation by Apple if is true or a myth. (I'm asking this because some of the "tips" actually end up knowing at the end that they aren't true).