There are MT5 to 5C (Grizzly P4026001 - COLLET ADAPTER ) and MT5 to ER40 chucks, which would need a draw bar/tube to mount. Problem is that it is very close to the headstock and also you are more limited as to the size stock that can be passed through.
http://zlivecenter.com/MT5ER40S23
I am using the shop made hand wheel 5C collet closer I recently finished:
http://www.hobby-machinist.com/threads/hand-wheel-collet-closer-build.62278/
It uses the Grizzly P4026001 MT5 to 5C adapter. That adapter is not particularly cheap ($100+) and not really accurate either (mine came with .0006" runout, and that seems to be pretty typical.) I have partially reground the adapter with my tool post grinder, using a wheel with a flexy 1/8" shank, which was hopelessly slow, and now it is at .0004" runout until I can get a 3/4" wheel to fit my 1/4" arbor, then maybe I can make some real progress.
I have room for up to 1 1/8" stock to go through my 1 1/2" spindle bore with the drawbar in place, which is more than the 1" maximum 5C collet capacity, so it should work for most anything I would want to do in a collet.
I mostly use even Imperial sizes of stock and fasteners when working with the collets, so I do not expect that to be a problem. I will get a few emergency collets to use for odd sizes.
Yes, the drawbar collet setup gets the carriage close to the headstock, but I do not see that as much of a problem. The QCTP and tooling reaches to the collet easily. The only real issue for me is that I will need to make a different arrangement for measuring carriage travel than the mag back indicator on the ways I am now using.
I only have about $125 in the entire hand wheel drawbar setup, and some metal I had laying around and the 5C collet set I have for other tasks as well. It seems to work just fine and should meet my needs for collet holding on my 13x40.