yup. ^^^^^ doing that will hold and let the chord fade. If you do this in a song with enough measures following that held chord, it will fade to total silence.

I sometimes use this to end a song rather than using one of the stock 2 bar endings. Sometimes I just want it my way.

You can find my music at:
www.herbhartley.com
Add nothing that adds nothing to the music.
You can make excuses or you can make progress but not both.

The magic you are looking for is in the work you are avoiding.