Short answer
Both are desktop amplifiers, $449 against $399.
On raw power they are level: each reaches 100 dB on 567 of the 567 non-electrostatic models here.
| Specification | Schiit Lyr+ | SMSL H200 |
|---|---|---|
| Power into 32Ω | 6.0 W | 2.0 W |
| Power into 150Ω | 1.5 W | 499 mW |
| Power into 300Ω | 900 mW | 300 mW |
| Power into 600Ω | 450 mW | 150 mW |
| Output impedance | 0.4 Ω | <0.1 Ω |
| Output noise | not published | not published |
| Price | $449 | $399 |
| Headphones it reaches 100 dB on out of 567 | 567 | 567 |
Not published means the maker leaves it out, so that axis cannot be compared.
| Balanced | Schiit Lyr+ | SMSL H200 |
|---|---|---|
| Socket | no separate rating | 4.4mm / 4-pin XLR |
| Power into 32Ω | — | 5.0 W |
| Power into 300Ω | — | 1.0 W |
| Output impedance | — | <0.1 Ω |
| Output noise | — | not published |
| Headphones it reaches 100 dB on out of 567 | — | 567 |
Only the SMSL H200 has a separate balanced rating from its maker; through it, it reaches 100 dB on 567 of the 567 models here. The Schiit Lyr+ may still have a balanced socket — its spec sheet simply gives no figure for one, so there is nothing to put beside it.
| Load | Schiit Lyr+ | SMSL H200 |
|---|---|---|
| 32 Ω | Published | Published |
| 150 Ω | Derived | Derived |
| 300 Ω | Published | Published |
| 600 Ω | Published | Published |
Both makers publish a power rating. Schiit Lyr+ publishes at 32 Ω, at 300 Ω and at 600 Ω; SMSL H200 at 32 Ω, at 300 Ω and at 600 Ω. The other rows are worked out from those.
The two publish at the same loads, which is the one case where the rows of this table can be read straight across.
On power they are interchangeable across this whole database: there is no headphone here that one reaches 100 dB on and the other does not.
1 headphone is left alone by the SMSL H200 under the one-eighth rule but coloured by the Schiit Lyr+ (Symphonium Titan).
567 of the 567 models here reach 100 dB on both.
Headroom is at a 100 dB SPL peak.
The widest gap on the list is the Shure SE846: Schiit Lyr+ has +51 dB of headroom there against +45 dB. 6 dB is about 3.6 times the power, which matters for peaks rather than for how loud the music sits.
The hiss columns are empty for Schiit Lyr+ and SMSL H200 because neither maker publishes no output noise figure.
| Headphone | Impedance | Needs | Schiit Lyr+ headroom | SMSL H200 headroom | Schiit Lyr+ hiss | SMSL H200 hiss |
|---|---|---|---|---|---|---|
| Shure SE846 | 9 Ω | 0.04 mW | +51 dB | +45 dB | not published | not published |
| Campfire Audio Andromeda 2020 | 9 Ω | 4.0 mW | +31 dB | +25 dB | not published | not published |
| Audeze LCD-2 Classic | 70 Ω | 0.79 mW | +36 dB | +31 dB | not published | not published |
| Beyerdynamic DT 1990 Pro (250Ω) | 250 Ω | 0.63 mW | +32 dB | +27 dB | not published | not published |
| HiFiMAN HE400se | 25 Ω | 7.9 mW | +29 dB | +24 dB | not published | not published |
| Audio-Technica ATH-R70X | 470 Ω | 1.6 mW | +26 dB | +21 dB | not published | not published |
| Sennheiser HD 600 | 300 Ω | 6.6 mW | +21 dB | +17 dB | not published | not published |
| HiFiMAN Susvara | 60 Ω | 50 mW | +18 dB | +13 dB | not published | not published |
The Schiit Lyr+ costs $50 more than the SMSL H200, and on these three axes the money buys nothing: among the 567 models here there is not one that the Schiit Lyr+ handles and the SMSL H200 does not — not on power, not on the one-eighth rule, not on hiss. The traffic runs the other way: the cheaper SMSL H200 leaves one model alone under the one-eighth rule that the Schiit Lyr+ does not.
Only published figures count here; blank axes are counted separately.
Each in full: Schiit Lyr+ and SMSL H200.