The i5 is a quad core. Each core is around 60-80% faster than each of AMD's cores.
The FX is an 8 core CPU. However, when you're running all of the cores, there's a penalty to the performance of each core, because they have to share resources. It varies, but 10% is a reasonable estimate.
4 x 1.7 = ~6.8
8 x 0.9 (module penalty) = 7.2
I can see, in some situations where you can fully, 100% utilize all of the FX's cores, it being faster than the i5. In anything that uses fewer threads, the i5 could be as much as 80% faster.
The FX CPU will draw at *least* twice as much power doing the same work as the i5. It will also be on an older motherboard/chipset that doesn't have modern connectivity, such as USB 3.1, M.2., etc., which certainly helps to make the case for the i5.