I don't have an iPhone 5, but every Apple product I've ever had... from the second iPod to the Classic, from iPhone 1 to 4, from the first AV Mac to the current iMac... all measure and sound exactly the same.
I'm betting that you didn't level match, direct A/B switch or blind test. I've checked my iPhone 4 and it is audibly transparent. No color at all.
Instead of betting or assuming, why not just ask first?
I always do direct A/B comparisons with equal volume and the exact same music files. In this case, I even used mini jack to mini jack adaptors so when I'd switch the iems from iP4 to iP5, the phones wouldn't pause. Switching from one phone to the other would be about one second with no interruption in music. Iems I used were fairly neutral and transparent RE400 and RE600.
I do blind comparison only when differences are tiny. In this case, the sound difference is
so obvious that I do not need to do a blind test. It is as obvious as switching from an excellent sounding tape player to a wanna be super CD player (and is almost there but not quite)
Bass are different, mediums are different, highs are different, soundstage is different... Night and day.
I've also owned many Apple players and many DAPs including Tera, HM801 & HM700.
And while the differences can be fairly minimal or hard to put into words for many (for instance the iP4 and HM700 are very similar), the iP5 is a totally different sounding player.
This being said, I find the iP4 transparent enough. I like it very very much, better than the iP5 because it has more body, more bloom, and sounds more organic. And until I heard the iP5, I would have said this phone is very transparent. It is. The iP5 is just MORE transparent and razor sharp precise. If I listen to the iP5 for 10 mns and switch back to the iP4, the bass on the iP4 feels loose, the mediums a tad muddy, and the highs less sparkly, believe it or not...
Numbers are just numbers, relevant for a specs sheet and engineering design purposes
BUT misleading in terms of actual auditory experience when one disregard the hardware and software implementations (TUNING).
Anyone assuming these two phones sound (nearly) identical based on previous experiences or specs numbers might want to go to an Apple store and check for themselves. Members who cannot distinguish between the two should be banned from this site.
; )