Short answer: the Chord Hugo 2. It ranks #17 of 43 DAC and headphone amp combos by measured performance, rated 4.5/5, at $2,595. The Ayre Codex ranks #43, rated 1.6/5, at $1,950, $645 cheaper, which does not close the gap in measured performance.
The Chord Hugo 2 is the better-sounding pick. Audio Science Review measured 112 dB SINAD, clean for nearly all listening, and Chord rates it at 740 mW into 32 ohms, enough for most planar magnetic headphones. Watch for: It costs far more than the SMSL DS20, which rates the same and measured higher SINAD.
The case for the Ayre Codex: It combines a DAC and headphone amp with USB and optical inputs, RCA and XLR line outputs, and a 6.35 mm jack plus a pair of 3.5 mm jacks usable as a balanced headphone output. Watch for: Audio Science Review measured a SINAD of only 68 dB, a level of noise and distortion that is a real audible weakness, especially with sensitive in-ear monitors.
Buy the Chord Hugo 2. It is rated higher, and the $645 you would save on the Ayre Codex does not close the gap.
Still deciding? The full Headphone Amps and DACs rankings cover every ranked option.
Specifications Side By Side
| Chord Hugo 2 | Ayre Codex | |
|---|---|---|
| Price | $2,595.00 | $1,950.00 |
| Ranked | #17 of 43 in DAC and Headphone Amp Combos | #43 of 43 in DAC and Headphone Amp Combos |
| Device Type | DAC and headphone amp | DAC and headphone amp |
| SINAD | 112 dB (measured by Audio Science Review) | 68 dB (measured by Audio Science Review) |
| Output Power (32 ohms) | 740 mW (manufacturer rated) | - |
| Output Power (300 ohms) | 94 mW (manufacturer rated) | - |
| Headphone Outputs | 3.5 mm, 6.35 mm | 6.35 mm, 2 x 3.5 mm (pair usable as balanced) |
| Balanced Output | No | Yes (dual 3.5 mm, XLR line out) |
| Inputs | Micro USB, optical, coaxial (3.5 mm), Bluetooth | USB-B, optical |
| Outputs | RCA | RCA, XLR |
| Bluetooth Codecs | SBC, aptX | - |
| Battery Life | 6 hours | - |
| DAC Chip | Xilinx Artix-7 FPGA (Chord pulse array) | - |
| Volume Control | Digital (1 dB steps) | Hardware knob (digital, 1 dB steps) |
| Dimensions | 3.9” x 0.8” x 5.1” (100 x 21 x 130 mm) | 2.2” x 5.4” x 9.1” (55 x 137 x 230 mm) |
| Weight | 0.8 lbs (365 g) | 3.1 lbs (1.4 kg) |
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Prices on this page were last checked October 11, 2026 at 4:59 PM UTC. Product prices and availability are accurate as of that date/time and are subject to change; the price and availability shown on Amazon at the time of purchase will apply to the purchase of this product.
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The Two Amps and DACs In Full
Chord Hugo 2: $2,595.00 Headphones.com eBay
Pros: Audio Science Review measured 112 dB SINAD, clean for nearly all listening, and Chord rates it at 740 mW into 32 ohms, enough for most planar magnetic headphones. It is a battery powered portable unit with about 6 hours of play, Bluetooth with aptX, and optical, coaxial and USB inputs. RCA outputs let it double as a home DAC.
Cons: It costs far more than the SMSL DS20, which rates the same and measured higher SINAD. There is no balanced headphone output, the USB port is the older micro USB type, and battery life is short at about 6 hours.
Full Chord Hugo 2 review and specifications →
| Released | 2017 (9 years ago) |
|---|---|
| Balanced Output | No |
| Battery Life | 6 hours |
| Bluetooth Codecs | SBC, aptX |
| DAC Chip | Xilinx Artix-7 FPGA (Chord pulse array) |
| Device Type | DAC and headphone amp |
| Dimensions | 3.9” x 0.8” x 5.1” (100 x 21 x 130 mm) |
| Headphone Outputs | 3.5 mm, 6.35 mm |
| Inputs | Micro USB, optical, coaxial (3.5 mm), Bluetooth |
| Output Power (300 ohms) | 94 mW (manufacturer rated) |
| Output Power (32 ohms) | 740 mW (manufacturer rated) |
| Outputs | RCA |
| SINAD | 112 dB (measured by Audio Science Review) |
| Volume Control | Digital (1 dB steps) |
| Weight | 0.8 lbs (365 g) |
- Reviews, Comparisons and Sound Samples
- Head-to-Head Comparisons
Ayre Codex: $1,950.00 Ayre eBay
Pros: It combines a DAC and headphone amp with USB and optical inputs, RCA and XLR line outputs, and a 6.35 mm jack plus a pair of 3.5 mm jacks usable as a balanced headphone output. The volume knob steps in precise 1 dB increments.
Cons: Audio Science Review measured a SINAD of only 68 dB, a level of noise and distortion that is a real audible weakness, especially with sensitive in-ear monitors. Ayre does not publish a power figure into 32 ohms, so its ability to drive demanding headphones is unknown. The Pro-Ject Pre Box S2 Digital rates higher and measures far cleaner for much less.
Full Ayre Codex review and specifications →
| Balanced Output | Yes (dual 3.5 mm, XLR line out) |
|---|---|
| Device Type | DAC and headphone amp |
| Dimensions | 2.2” x 5.4” x 9.1” (55 x 137 x 230 mm) |
| Headphone Outputs | 6.35 mm, 2 x 3.5 mm (pair usable as balanced) |
| Inputs | USB-B, optical |
| Outputs | RCA, XLR |
| SINAD | 68 dB (measured by Audio Science Review) |
| Volume Control | Hardware knob (digital, 1 dB steps) |
| Weight | 3.1 lbs (1.4 kg) |
- Reviews, Comparisons and Sound Samples
- Head-to-Head Comparisons