My testing showed that AsNoTracking is faster than dapper. But indeed the tests were purely focused on materialization and not query parsing: linq query parsing takes a lot of time, so with lots of predicates etc. you'll see much slower performance with EF compared to other ORMs with query systems other than Linq (except NHibernate, that's slow regardless)
See: https://github.com/FransBouma/RawDataAccessBencher