The Ares V launch vehicle currently in development by NASA cannot be directly compared to the Saturn V it resembles, since the former will launch only the Lunar Surface Access Module (LSAM), while the latter put both the Apollo CSM (command/service module) and LEM (Lunar Excursion Module) into space. However comparisons can definitely be made.
The Ares V emerged from NASA’s Exploration Systems Architecture Study as a means of returning to the Moon while simultaneously maintaining the technical infrastructure, knowledge base, and jobs developed in support of the Shuttle program. As a result, a glance at an artist’s conception of the vehicle reveals both solid rocket boosters (SRBs) and a modified external tank (ET), keystones of the Space Shuttle program.

click to enlarge
The first stage relies on six RS-68B variant rocket motors similar to those employed on the United States Air Force’s Delta launcher, while the Earth Departure Stage, or EDS, uses an engine based on the J-2 rocket of Apollo fame, referred to as the
J-2X. According to NASA, the current version of the Ares V will be able to lift 207 tons to LEO or 78 to lunar orbit, a performance that would exceed its predecessor by a significant margin. This margin is intended not only to allow for a very robust Moon mission, especially given the fact that the Ares does not have to lift the Orion Crew Exploration Vehicle (CEV), but to allow for expansion of a lunar exploration effort or an eventual manned mission to Mars.