diff --git a/.github/compatibility-test-matrices/release-v5.0.x.json b/.github/compatibility-test-matrices/release-v5.0.x.json
deleted file mode 100644
index 3730a89478d..00000000000
--- a/.github/compatibility-test-matrices/release-v5.0.x.json
+++ /dev/null
@@ -1,12 +0,0 @@
-{
-  "include": [
-    {
-      "chain-binary": "simd",
-      "chain-a-tag": "release-v5.0.x",
-      "chain-b-tag": "release-v5.0.x",
-      "chain-image": "ghcr.io/cosmos/ibc-go-simd",
-      "entrypoint": "TestTransferTestSuite",
-      "test": "TestReceiveEnabledParam"
-    }
-  ]
-}
diff --git a/.github/compatibility-test-matrices/release-v5.0.x/client.json b/.github/compatibility-test-matrices/release-v5.0.x/client.json
new file mode 100644
index 00000000000..ee237c25cff
--- /dev/null
+++ b/.github/compatibility-test-matrices/release-v5.0.x/client.json
@@ -0,0 +1,10 @@
+{
+  "chain-a": ["release-v5.0.x", "v4.1.0", "v3.3.0", "v2.4.0"],
+  "chain-b": ["release-v5.0.x", "v4.1.0", "v3.3.0", "v2.4.0"],
+  "entrypoint": ["TestClientTestSuite"],
+  "test": [
+    "TestClientUpdateProposal_Succeeds"
+  ],
+  "chain-binary": ["simd"],
+  "chain-image": ["ghcr.io/cosmos/ibc-go-simd"]
+}
diff --git a/.github/compatibility-test-matrices/release-v5.0.x/incentivized-transfer.json b/.github/compatibility-test-matrices/release-v5.0.x/incentivized-transfer.json
new file mode 100644
index 00000000000..f179a1683b2
--- /dev/null
+++ b/.github/compatibility-test-matrices/release-v5.0.x/incentivized-transfer.json
@@ -0,0 +1,15 @@
+{
+  "chain-a": ["release-v5.0.x", "v4.1.0"],
+  "chain-b": ["release-v5.0.x", "v4.1.0"],
+  "entrypoint": ["TestIncentivizedTransferTestSuite"],
+  "test": [
+    "TestMsgPayPacketFee_AsyncSingleSender_Succeeds",
+    "TestMsgPayPacketFee_InvalidReceiverAccount",
+    "TestMultiMsg_MsgPayPacketFeeSingleSender",
+    "TestMsgPayPacketFee_SingleSender_TimesOut",
+    "TestPayPacketFeeAsync_SingleSender_NoCounterPartyAddress",
+    "TestMsgPayPacketFee_AsyncMultipleSenders_Succeeds"
+  ],
+  "chain-binary": ["simd"],
+  "chain-image": ["ghcr.io/cosmos/ibc-go-simd"]
+}
diff --git a/.github/compatibility-test-matrices/release-v5.0.x/transfer.json b/.github/compatibility-test-matrices/release-v5.0.x/transfer.json
new file mode 100644
index 00000000000..7779f9f29b0
--- /dev/null
+++ b/.github/compatibility-test-matrices/release-v5.0.x/transfer.json
@@ -0,0 +1,14 @@
+{
+  "chain-a": ["release-v5.0.x", "v4.1.0", "v3.3.0", "v2.4.0"],
+  "chain-b": ["release-v5.0.x", "v4.1.0", "v3.3.0", "v2.4.0"],
+  "entrypoint": ["TestTransferTestSuite"],
+  "test": [
+    "TestMsgTransfer_Succeeds_Nonincentivized",
+    "TestMsgTransfer_Fails_InvalidAddress",
+    "TestMsgTransfer_Timeout_Nonincentivized",
+    "TestSendEnabledParam",
+    "TestReceiveEnabledParam"
+  ],
+  "chain-binary": ["simd"],
+  "chain-image": ["ghcr.io/cosmos/ibc-go-simd"]
+}
diff --git a/.github/workflows/e2e-compatibility-workflow-call.yaml b/.github/workflows/e2e-compatibility-workflow-call.yaml
new file mode 100644
index 00000000000..9aa82416c69
--- /dev/null
+++ b/.github/workflows/e2e-compatibility-workflow-call.yaml
@@ -0,0 +1,50 @@
+on:
+  workflow_call:
+    inputs:
+      docker-tag:
+        description: 'Docker tag being used'
+        required: true
+        type: string
+      test-suite:
+        description: 'Test suite to run'
+        required: true
+        type: string
+
+
+jobs:
+  load-test-matrix:
+    outputs:
+      test-matrix: ${{ steps.set-test-matrix.outputs.test-matrix }}
+    runs-on: ubuntu-latest
+    steps:
+      - uses: actions/checkout@v3
+      - run: |
+          # use jq -c to put the full json contents on a single line. This is required when using the json body
+          # to create the matrix in the following job.
+          test_matrix="$(cat .github/compatibility-test-matrices/${{ inputs.docker-tag }}/${{ inputs.test-suite }}.json | jq -c)"
+          echo $test_matrix
+          echo "::set-output name=test-matrix::$test_matrix"
+        id: set-test-matrix
+
+  e2e:
+    runs-on: ubuntu-latest
+    needs: load-test-matrix
+    strategy:
+      fail-fast: false
+      matrix: ${{ fromJSON(needs.load-test-matrix.outputs.test-matrix) }}
+    steps:
+      - uses: actions/checkout@v3
+      - uses: actions/setup-go@v3
+        with:
+          go-version: 1.18
+      - name: Run e2e Test
+        run: |
+          cd e2e
+          make e2e-test entrypoint=${{ matrix.entrypoint }} test=${{ matrix.test }}
+        env:
+          # each test has its own set of variables to specify which images are used.
+          CHAIN_IMAGE: "${{ matrix.chain-image }}"
+          CHAIN_A_TAG: "${{ matrix.chain-a }}"
+          CHAIN_B_TAG: "${{ matrix.chain-b }}"
+          CHAIN_BINARY: "${{ matrix.chain-binary }}"
+          RLY_TAG: "v2.0.0"
diff --git a/.github/workflows/e2e-compatibility.yaml b/.github/workflows/e2e-compatibility.yaml
index 482d8d321de..31a6c05319c 100644
--- a/.github/workflows/e2e-compatibility.yaml
+++ b/.github/workflows/e2e-compatibility.yaml
@@ -1,12 +1,13 @@
 name: Compatibility E2E
 on:
   workflow_dispatch:
-    release-branch:
-      description: 'Release branch to test'
-      required: true
-      type: choice
-      options:
-        - release/v5.0.x
+    inputs:
+      release-branch:
+        description: 'Release branch to test'
+        required: true
+        type: choice
+        options:
+          - release/v5.0.x
 
 env:
   REGISTRY: ghcr.io
@@ -47,42 +48,29 @@ jobs:
           docker build . -t "${REGISTRY}/${ORG}/${IMAGE_NAME}:${{ needs.determine-docker-tag.outputs.docker-tag }}"
           docker push "${REGISTRY}/${ORG}/${IMAGE_NAME}:${{ needs.determine-docker-tag.outputs.docker-tag }}"
 
-  load-test-matrix:
-    outputs:
-      test-matrix: ${{ steps.set-test-matrix.outputs.test-matrix }}
-    needs: determine-docker-tag
-    runs-on: ubuntu-latest
-    steps:
-      - uses: actions/checkout@v3
-      - run: |
-          # use jq -c to put the full json contents on a single line. This is required when using the json body
-          # to create the matrix in the following job.
-          test_matrix="$(cat .github/compatibility-test-matrices/${{ needs.determine-docker-tag.outputs.docker-tag }}.json | jq -c)"
-          echo $test_matrix
-          echo "::set-output name=test-matrix::$test_matrix"
-        id: set-test-matrix
+  transfer:
+    needs:
+      - build-release-image
+      - determine-docker-tag
+    uses: ./.github/workflows/e2e-compatibility-workflow-call.yaml
+    with:
+      docker-tag: "${{ needs.determine-docker-tag.outputs.docker-tag }}"
+      test-suite: "transfer"
 
-  e2e-tests:
-    runs-on: ubuntu-latest
+  client:
     needs:
-      - load-test-matrix
       - build-release-image
-    strategy:
-      fail-fast: false
-      matrix: ${{ fromJSON(needs.load-test-matrix.outputs.test-matrix) }}
-    steps:
-      - uses: actions/checkout@v3
-      - uses: actions/setup-go@v3
-        with:
-          go-version: 1.18
-      - name: Run e2e Test
-        run: |
-          cd e2e
-          make e2e-test entrypoint=${{ matrix.entrypoint }} test=${{ matrix.test }}
-        env:
-          # each test has its own set of variables to specify which images are used.
-          CHAIN_IMAGE: "${{ matrix.chain-image }}"
-          CHAIN_A_TAG: "${{ matrix.chain-a-tag }}"
-          CHAIN_B_TAG: "${{ matrix.chain-b-tag }}"
-          CHAIN_BINARY: "${{ matrix.chain-binary }}"
-          RLY_TAG: "v2.0.0"
+      - determine-docker-tag
+    uses: ./.github/workflows/e2e-compatibility-workflow-call.yaml
+    with:
+      docker-tag: "${{ needs.determine-docker-tag.outputs.docker-tag }}"
+      test-suite: "client"
+
+  incentivized-transfer:
+    needs:
+      - build-release-image
+      - determine-docker-tag
+    uses: ./.github/workflows/e2e-compatibility-workflow-call.yaml
+    with:
+      docker-tag: "${{ needs.determine-docker-tag.outputs.docker-tag }}"
+      test-suite: "incentivized-transfer"