The P-38 actually entered service in 1941 so, more or less, it was a contemporary of the Me 110; the advantage the P-38 had was, a.) turbo-supercharged engines, b.) lower inertial mass, which contributed to a better roll rate, c.) contra-rotating engines which allowed the P-38 to roll equally well in either direction (left or right), and d.) single-pilot operation, which required less in the way of support hardware vs. the 110 and, therefore, lower overall weight. The P-38 is generally overlooked vs. more the "glamorous" fighters like the P-47 and the P-51, but it was the first production fighter in the world to exceed 400 mph in horizontal flight, and the first operational fighter with a 1,000 mile range; it was also the only US fighter to remain in constant production from 1941 to 1945.
1st i write fightning. 2nd so the P-38 it's contemporary of Me 262.