There is very little difference in optical performance between a 114mm scope and a 127mm or 130mm scope.
They will all be different optically.
Some of the more popular 114mm scopes are F4 (sometimes even listed as F3.9). Those scopes are designed to be wide field specialists and they can be hard to collimate and focus at high magnification and will play havoc with inexpensive eyepieces.
In turn, nearly all of the 130mm reflectors are F5. They do better at high magnification than the 114mm/F4 scopes, but lose a bit of field of view. They are a bit more forgiving on collimation, focus, and eyepieces.
Back to the 114mm scopes - they are also made in F8. These do better on higher magnification and are more forgiving all around, but have very narrow field of view.
In the end, the 130mm scope is a general purpose scope while the various 114mm newts are specialized for different types of targets.