Panasonic FP5 has a
14.0MP 1/2.3-inch (6.08 x 4.56 mm ) sized CCD sensor and features Venus Engine IV processor. On the other hand, Canon SX160 IS has a
16.0MP 1/2.3-inch (6.17 x 4.55 mm ) sized CCD sensor and features Digic 4 processor.
Below you can see the FP5 and SX160 IS sensor size comparison.
Sensor Size and Resolution Comparison image of Panasonic FP5 and Canon SX160 IS Cameras
Panasonic FP5 and Canon SX160 IS have almost the same sensor size, so neither of them has any significant advantage over the other in terms of providing control over depth of field when used with the same focal length and aperture.
Sensor size sets the circle of confusion, so it drives how much depth of field each
of these bodies gives you at a given aperture. You can calculate it exactly for the
Panasonic FP5
or the
Canon SX160 IS ,
including hyperfocal distance.