A rotary valve includes a rotary component configured to rotate about an axis of rotation thereof. The rotary component includes a plurality of fluid openings formed at an exterior surface thereof with each of the fluid openings forming a fluid inlet or a fluid outlet into one of a plurality of fluid passageways formed through the rotary component. The rotary component further comprises a valve body rotatably receiving the rotary component therein. The valve body includes a five fluid ports formed therethrough with each of the fluid ports configured to be selectively aligned with one of the fluid openings of the rotary component depending on a rotational position of the rotary component relative to the valve body to allow the rotary valve to operate as a five-way switching valve.