No, using the constructor to initialize your JUnit test fixture is technically equal to using the @Before method (due to the fact that JUnit creates a new instance of the testing class for each @Test). The only (connotational) difference is that it breaks the symmetry between @Before and @After, which may be confusing for some. IMHO it is better to adhere to conventions (which is using @Before).
Note also that prior to JUnit 4 and annotations, there were dedicated setUp() and tearDown() methods – the @Before and @After annotations replace these, but preserve the underlying logic. So using the annotations also makes life easier for someone migrating from JUnit 3 or earlier versions.
Notable differences
More details from comments:
@Beforeallows overriding parent class behavior, constructors force you to call parent class constructors- The constructor runs before subclass constructors and
@Rulemethods,@Beforeruns after all of those - Exceptions during
@Beforecause@Aftermethods to be called, Exceptions in constructor don’t