Examples:
U series: Core i5 4300U and Core i7 4600U
Y series: Core i5 4300Y and Core i7 4610Y
Where you see equal/higher clocks than 3rd gen core predecessors, lowering the TDP while including the PCH. In case of the 4610Y, its 13% higher clocked in Base and 11.5% in Turbo. That, when including perf/watt gains, equals to 25% power reduction with 10% performance increase in U and 28% power reduction with 20% performance increase in Y!
You're biassing your comparison by going i5 to i7 - there are 3rd gen i7 U and Y parts as well.
Top-bin i7 U series is:
i7-3687U - 2.1GHz base, 3.3GHz turbo
i7-4650U - 2.1GHz base, 3.3GHz turbo
Top-bin i7 Y series is:
i7-3689Y - 1.5GHz base, 2.6GHz turbo
i7-4610Y - 1.7GHz base, 2.9GHz turbo
Turbo of course makes it hard to have a fair comparison as well - just because two chips have the same max turbo frequency doesn't mean they can spend the same amount of time there. Really the only metric you can compare on is perf/watt where the Haswell parts should win by varying degrees in terms of CPU performance and easily on GPU performance. Testing I've done shows HD4200 (10W) GPU performance to typically be quicker than HD4000 at 17W, and that was comparing an i5-4300Y to an i7-3687U...