Not quite, but JWST will be out at the L2 point, beyond the moon in essentially what amounts to an earth-matching solar orbit.

It's large aperture infrared sensors will have an unobstructed view of the universe (unlike Hubble which is in low earth orbit, and so only gets 90 minute windows of observation).

Basically, using IR spectroscopy we will be able to analyse the atmospheric composition as well as the thermal emissions of exoplanets.

Finally, JWST won't be limited to a small, fixed field of view like Kepler.