Uh, no it doesn’t.
“Vests designed for bullets offer little protection against blows from sharp implements, such as knives, arrows or ice picks, or from bullets manufactured of non-deformable materials, e.g., those containing a steel core instead of lead. This is because the impact force of these objects stays concentrated in a relatively small area, allowing them to puncture the fiber layers of most bullet-resistant fabrics.[citation needed] By contrast, stab vests provide better protection against sharp implements, but are generally less effective against bullets.”
https://en.m.wikipedia.org/wiki/Bulletproof_vest
While many vests are also designed to also be stab vests, many are not.