Lutherans as well teach the Apostle, Nicene and Athanasian creeds, not only in Sunday School but in their catechisms and confirmation classes. "Yes Jesus Loves Me" is in no way comparable to these creeds. It is a friendly, children directed song about Christ's love.
It is taught to children before the age of rational thought. It is done to indoctrinate (literally) rather than educate. It is done out of love, however, and therefore cannot be faulted on moral grounds.