I have recently published an article about Mi Band 5 vs Mi Band 4 comparison, the same I am going to do with another fitness band Mi Band 5 vs Honor Band 5 comparison.
Honor Band 5 was launched last year on Amazon and then later in Flipkart with the minimal price of Rs2,199 as of the current price.
There is some comparison between the Honor Band 5 and Mi Band 5 regarding features and performance.
Mi Band 5 vs Honor Band 5: Display
The Honor Band 5 has a size of 0.95-inch and 240 x 120 pixels resolution AMOLED color display, which shows up to 45 characters on screen, whereas Mi Band 5 has 1.1-inch with a 126 x 294 pixels resolution with AMOLED color display.
A major feature in the honor band is that you can adjust the brightness to get readable even in direct sunlight. However, the Mi band doesn’t have this feature.
Mi Band 5 versus Honor Band 5: Features and Specification
SpO2(BPM) – Some of the major features are not available in mi band 5, whereas Honor band 5 has a SpO2 blood oxygen level monitoring feature, which is very useful in pandemic days. 
You can check in real-time, but I can’t say the accuracy until I have another medical equipment to check the difference.
Heart Rate Monitor – Both have 24 hours Heart Rate monitoring feature. As I have seen, the accuracy rate is 95%, only 5% possible that it sometimes shows buggy but only in the rear case. 
If you check the heart rate results in a dark area, the result’s speed may vary like it may take up to 15-30 seconds, the same in a light area. It shows the result quickly for a few seconds only.
Sleep Tracker – Both have the sleep tracker; you can check sleep details on their respective apps. Both bands have day-time sleep data. 
The sleep tracking data are 99% accurate in both the band, but it consumes a lot of battery because it keeps connected to mobile Bluetooth.
Waterproof – Honor Band 5 and Mi Band 5 are both having the water-resistance level up to 50 meters, swim mode. You don’t need to take off the band when washing your hands, this I tested a lot of time.
Exercise Modes – There are lots of workout modes are available in both of the fitness bands. Honor Band, 5 has ten fitness modes, which also continuously run heart rate sensor, whereas, mi band 5 has 11 exercise sports modes. 
Mi Band 5 has some extra useful fitness modes for Yoga, weight lifting, rope skipping, rowing machine, and Elliptical machine.
Music Controller – Both the band have music and volume controller. You can directly control music and volume from the band itself. 
Use a third-party app to control more apps like Youtube, Spotify, etc.
Watch Faces – Mi band 5 and Honor Band 5 comes with pre-installed custom watch faces; some of them are animated. 
You can download more watch faces from the third-party mod apps.
Battery Performance – Both the band gives up to 14 days backup. However, if you don’t connect to Bluetooth or keep monitoring heart rate continuously, it gives more than 20+ days.
Charging time – in both the bands is the same, almost takes up to one hour from 0 to 100 percent. 
Mi Band 5 has a magnetic charger while Honor Band 5 has a USB charger.
Extra Features – You can turn off the Honor Band 5, but you can’t do the same in Mi band 5. You can read the message notifications in both of the bands.
Who is the winner?
Design – Honor Band 5, due to the curved display, which looks attractive than Mi Band 5.
Display – Honor Band 5, both the bands having the high brightness but Honor have the brightness controller. The touch response is better on Mi Band 5.
SpO2 Sensor – Honor Band 5, only this band have such feature in this price range.
Heart Rate Sensor – Xiaomi Mi Band 5, they have improved in this band, but Honor Band 5 is also faster and highly accurate. Both are the winners, but as per my own experience, I find Mi Band 5 is the winner.
Sleep Tracker – Mi Band 5 has PAI(Personal Activity Intelligence) features and much more accurate and detailed stats.
Pedometer and Workouts – Mi Band 5, both the bands have the same stats, but Mi band 5 has added more useful exercise modes compared to Honor Band 5.
Battery Backup – Mi Band 5, It has a magnetic charger. I don’t like the USB charging(personal opinion), both have the same backup, but Mi band 5 has more battery backup.
Watch Faces – Mi Band 5. Some new has been added a total of 110 watch faces plus over a 900+ custom animated watch faces are available on third party websites. You can find hundreds of watch faces on the website.
Accessories – Mi Band 5, lots of colorful custom straps, and tempered glass.
Price – Honor Band 5, the price is about to compare almost 800rs less than Mi Band 5, but in terms of features, no doubt of it Honor Band 5 is the winner.
Updates – Mi Band 5, new band, Xiaomi always cares about the new device by giving regular updates and improving or adding new features through the app.
Verdict:
Both bands are available on Amazon. Mi Band 5 is recently launched, and they improved a lot plus added some extra features, while Honor Band 5 was launched last year but still giving tight competition because of the SpO2 feature, which is required in this pandemic days.
The only cons I found in Honor band 5 are that the display is made of glass, which can be easily damaged, so you should immediately buy a screen guard along with the band.
They bang all I can say. Under 3000 rupees, both are the best fitness band available in the market, but if you don’t care about the SpO2 feature, then Mi Band 5 is the best choice for you.