I think something to consider when working with performance, is that reading data is almost always faster than reading data, moving data and then reading again rather than just reading once.
So from your question if you are combining all the tables into a single say temporary table or table variable this will most definitely be slow because it has to query all that data and move it (depending on how much data you are working with this may or may not make much of a difference). As well regarding your table structure, indexing on strings only really becomes efficient when the same string shows up a number of times throughout the tables.
I.e. if you are searching on months (Jan, Feb, Mar, etc...) an index will be great because it can only be 1 of 12 options, and the more times a value is repeated/the less options there are to choose from the better an index is. Where if you are searching on say user entered values ("I am writing my life story....") and you are searching on a word inside that string, an index may not make any difference.
So assuming your query is searching on, in my example months, then you could do something like this:
SELECT value
FROM (
SELECT value FROM table1
UNION
SELECT value FROM table2
UNION
SELECT value FROM table3
UNION
SELECT value FROM table4
UNION
SELECT value FROM table5
) t
WHERE t.value = 'Jan'
This will combine your results into a single result set without moving data around. As well the interpreter will be able to find the most efficient way to query each table using the provided index on each table.