How should I compare values in two lists?

I have two lists

List 01 => { A, B, C, D, E }
List 02 => { F, F, F, F, E }

I need to check if one element of List 02 exists in List 01, so the following should be false.

List 01 => { A, B, C, D, E }
List 02 => { F, F, F, F, F } // no element matches

And here it should be true.

List 01 => { A, B, C, D, E }
List 02 => { F, F, F, F, B } // last element matches

How can I check that?

I'm concerned about performance as well.