I think $duration is a thing, which is the time it took to run the previous command. It doesn't separate things like time does, but it's still useful for some cases.
In fact, I customized my prompt to pretty print the previous command's duration if it took longer than 3 seconds or something like that.
time fish -c '[function]'
but that includes the time to launch fish.
This, of course, wouldn't matter for any reasonable usecase but I like a fancy prompt and don't like waiting for it to run.