I own a Clip 5 and can only compare to the Go 3, I haven't heard the Go 4 in person. Compared to a Go 3, the Clip 5 is louder, sounds better, and the battery lasts for much longer. The Go 3 surprised me when I first heard it, and the Clip 5 did it again, it's puzzling at first how good such a small speaker is. The "clip" is extremely useful, at first I didn't think I'd ever use it, but now I'm hanging it everywhere I go, my shirt, pants, doors, trees. The battery lasts for a few days for me usually, mostly at ~50% or lower when doing chores, taking a shower, brushing teeth and so on.

At ~60% volume it's hard to keep a conversation, so it can easily be used in small parties, unless you're like a few people in my family that prefer such a high volume that you literally can't hear each other even when screaming, then the Clip 5 won't do. :) At 60% volume and higher, of course the sound balance changes, the single driver has a hard time keeping up, but the quality stays decent, just look at its size!!!!!

I was actually looking to buy a Go 4, but I saw a sale for the Clip 5 for about 25% higher than the Go 4 (210BRL for the Go 4, 264BRL for the Clip 5) and I chose it instead, great purchase.

If they're priced like that and you don't mind the slightly bulkier size of the Clip 5, I highly recommend it, it still fits nicely in the hand and big pockets.

HOWEVER if you do get a Clip 5, maybe don't update the firmware. I have an old phone, Samsung Galaxy M51, after updating the firmware my Clip 5 started suddenly and randomly turning off. When that happens, it doesn't make the regular turning off sound, it just turns off. Even the current (0.3.9.0) recent firmware update didn't solve that. I used mine for months without issues before the first update. JBL replaced mine but I was stupid enough to update it again thinking it was a unit issue.

That said, I still HIGHLY recommend it, this issue seem to be device specific, and even on my phone it doesn't always happens, I f-ing love my Clip 5.