Do I think it's on the level of a 5 year old where they can understand it? No I don't. Do I think it's too violent and will scar a 5 year old for life? No.
Is it a movie I'd take my 5 year old to see? Probably not because they aren't old enough to understand the plot line and what's going on and would probably fall asleep. The violence in the movie wouldn't be enough to leave my child at home, it's not very gory.