Depends very much on the drives in question. And keep in mind the hdd is running the OS and any other background software as well, so it has further demands on its time and dedicated drive of any type might help out.
Using a USB drive as a dedicated disk for a particularly slow to load game isn't a terrible idea.
Doesn't really apply in this case, but there are some pretty speedy 3.0/3.1 USB drives out there. They do make USB SSDs in the stick form factor (though they are quite a bit larger still) And your typical SATA SSD is far cheaper anyway.
USB 3.2 on the way, should make SSD to portable drive transfers a breeze and won't require expensive drives.