You have to adjust the paper guide and punch the first set of holes, then flip the pages and punch the second set of holes.

The two sets of three holes this punches are too close together to be used in the A5 filofax.

That would be the only reason I would opt for an adjustable A5 punch over this, so there would be no trimming, no double punching to get both sets of holes like with this punch.

It does punch A5 size, make sure you watch the instruction video, it shows how you have to position the paper to punch the first set of holes, then flip the paper to punch the second set of holes.