No, it's different by 2 stops or 1/4th - there's the factor of 4 that you are thinking of. That's a rough approximation though since 4x5 has a different aspect ratio of course.
Rick already explained it above. A 135mm lens at f/8 has the same DOF regardless of format but on 4x5 (assuming it covers 4x5) it shows a much wider field of view. Therefore one would use different lenses to acquire the same FOV in different formats - in other words a ~35mm lens on 35mm film would be about the same as that 135mm on 4x5, and would only need to be stopped to ~f/4 to get the equivalent DOF rather than f/8.
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