It does matter. It has to do not only with the shape that is cutting through the water but the trailing shape as well. If the shape is not hydrodynamic such as in the case where there are sharp angles there will be turbulence created behind the moving object which will retard the movement. I remember doing this experiment in school where we dragged different shapes through a long tank of water with constant force by connecting them to the same weight and letting it drop to the ground. The most hydrodynamic shapes covered the distance faster. Same idea as the bicycle helmet.
