Short answer: the Sennheiser HDV 820. It ranks #34 of 43 DAC and headphone amp combos by measured performance, rated 3.6/5, at $1,999.95. The Ayre Codex ranks #43, rated 1.6/5, at $1,950, $49.95 cheaper, which does not close the gap in measured performance.
The Sennheiser HDV 820 is the better-sounding option. Audio Science Review measured a SINAD of 108 dB, clean for nearly all listening. The tradeoff: Sennheiser doesn’t publish a power figure into 32 ohms, so it is hard to judge how well it drives low impedance planar headphones.
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 Sennheiser HDV 820. It is rated higher, and saving $49.95 with the Ayre Codex does not make up for the sound-quality gap.
Want more options? Browse the full Headphone Amps and DACs rankings.
Specifications Side By Side
| Sennheiser HDV 820 | Ayre Codex | |
|---|---|---|
| Price | $1,999.95 | $1,950.00 |
| Ranked | #34 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 | 108 dB (measured by Audio Science Review) | 68 dB (measured by Audio Science Review) |
| Headphone Outputs | 6.35 mm, 4.4 mm balanced, 4-pin XLR balanced | 6.35 mm, 2 x 3.5 mm (pair usable as balanced) |
| Balanced Output | Yes (4.4 mm, 4-pin XLR, XLR line out) | Yes (dual 3.5 mm, XLR line out) |
| Inputs | USB, optical, coaxial, RCA, XLR | USB-B, optical |
| Outputs | XLR | RCA, XLR |
| DAC Chip | ES9028PRO | - |
| Volume Control | Hardware knob | Hardware knob (digital, 1 dB steps) |
| Dimensions | 8.8” x 1.7” x 12” (224 x 44 x 306 mm) | 2.2” x 5.4” x 9.1” (55 x 137 x 230 mm) |
| Weight | 5.3 lbs (2.39 kg) | 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
Sennheiser HDV 820: $1,999.95 Sennheiser eBay
Pros: Audio Science Review measured a SINAD of 108 dB, clean for nearly all listening. It has 6.35 mm, 4.4 mm balanced and 4-pin XLR balanced headphone outputs, and accepts USB, optical, coaxial, RCA and XLR inputs, so it can also serve as a standalone amp for another DAC.
Cons: Sennheiser doesn’t publish a power figure into 32 ohms, so it is hard to judge how well it drives low impedance planar headphones. The Loxjie D40 rates higher and measured much cleaner for a small fraction of the price.
Full Sennheiser HDV 820 review and specifications →
| Balanced Output | Yes (4.4 mm, 4-pin XLR, XLR line out) |
|---|---|
| DAC Chip | ES9028PRO |
| Device Type | DAC and headphone amp |
| Dimensions | 8.8” x 1.7” x 12” (224 x 44 x 306 mm) |
| Headphone Outputs | 6.35 mm, 4.4 mm balanced, 4-pin XLR balanced |
| Inputs | USB, optical, coaxial, RCA, XLR |
| Outputs | XLR |
| SINAD | 108 dB (measured by Audio Science Review) |
| Volume Control | Hardware knob |
| Weight | 5.3 lbs (2.39 kg) |
- 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