Not quite.
It depends on what you are charged with.
In a case of say, possession of stolen information, the laws of possession applied to contraband such as drugs would likely apply.
Since the information wouldn't be in your actual possession(literally in your hands or on your person), then they would fall under constructive possession laws.
In most states, constructive possession has 3 parts --
1) You must have knowledge of the presence of the contraband
2) You must know of the contraband's illicit nature
3) You must have the ability to exercise dominion and control over the contraband.
If I slip an encrypted thumb drive full of stolen trade secrets into your suitcase at the airport, you're not automatically in possession of those things because, absent any other information, none of the rules above could be satisfied.
But, if you knew the encryption key to the thumb drive, then that is evidence against you and that knowledge would be protected under the 5th amendment.
If police find a random iPhone in your house that you share with a roommate, they would have to prove constructive possession to tie anything found on that device to you. Knowledge of the password, regardless of what the password is, would be protected under the 5th amendment.
In both cases, the authorities could not compel you to incriminate yourself by forcing you to disclose your knowledge of the password to the device.
IANAL either. If you are ever in such a situation, be prepared to sit in prison for 10 years while you work your way through the appellate courts, because you're in for a long battle.