Is 1 quarter less than a half?

YES!!!!

1/4 < 1/2

Assuming the numerator(top) number remains at '1' , then the larger the denoiminator(bottom) , the smaller the fraction.

e.g. 1/6 < 1/5 < 1/3 < 1/3 < 1/2 < 1/1( 1) et seq.,