Multiphase variable-speed drives, supplied from two-level voltage source inverters (VSIs), are nowadays considered for various industrial applications. Although numerous pulsewidth modulation (PWM) schemes for multiphase VSIs, aimed at sinusoidal output voltage generation, have been developed, no detailed analysis of the impact of these modulation schemes on the output current ripple has ever been reported. This paper presents a comprehensive analytical analysis and comparison of the output current ripple caused by the application of three different continuous PWM schemes, using a five-phase VSI as an example. Main properties of sinusoidal PWM, fifth harmonic injection PWM, and space vector PWM are elaborated and analyzed using the harmonic flux concept. Space vector theory is applied in the analysis. As a result, harmonic distortion factors are obtained for each PWM scheme. Theoretical considerations are verified by simulations and experimental investigation using a custom-designed five-phase VSI-fed induction motor drive.