Yes, and look at this:
ETYMOLOGY:
From Old French redonder (to overflow), from Latin redundare (to overflow), from red-/re- (back) + undare (to surge). Ultimately from the Indo-European root wed- (water, wet), which also gave us water, winter, hydrant, redundant, otter, and vodka. Earliest documented use: before 1382.
Is that not amazing?!

What I'd like to know is how we got rebound and redound; two such similar words with such similar meanings.