I actually would have guessed they were pretty close. Apparently I was wrong:

The following claims 5% vs .2%

https://www.businessinsider.com/coronavirus-death-rate-us-co...

Then again this chart seems to indicate something closer to 2% of confirmed cases are fatal for Covid:

https://ourworldindata.org/grapher/total-deaths-and-cases-co...

I imagine more non-fatal Covid cases go unreported than fatal ones so perhaps even that's high, but it's still close to an order of magnitude worse than the flu.

Edit:

That first source isn't great, and is outdated anyways. This one seems to verify the ~2% for Covid in the US.

https://coronavirus.jhu.edu/data/mortality

I think you're mixing up IFR with CFR.

Current best estimate of COVID IFR is 0.27%, which is basically the same as flu.

https://www.who.int/bulletin/online_first/BLT.20.265892.pdf

However the CI is extremely wide.