Short answer
Both are desktop amplifiers, $1199 against $1160.
The SMSL VMV P2 MK2 reaches 100 dB on 567 of the 567 models here, the Schiit Mjolnir 3 on 566.
| Specification | Schiit Mjolnir 3 | SMSL VMV P2 MK2 |
|---|---|---|
| Power into 32Ω | 1.0 W | 2.0 W |
| Power into 150Ω | 488 mW | 499 mW |
| Power into 300Ω | 500 mW | 300 mW |
| Power into 600Ω | 250 mW | 150 mW |
| Output impedance | 0.13 Ω | <0.1 Ω |
| Output noise | 25.18 µV | not published |
| Price | $1199 | $1160 |
| Headphones it reaches 100 dB on out of 567 | 566 | 567 |
Not published means the maker leaves it out, so that axis cannot be compared.
| Balanced | Schiit Mjolnir 3 | SMSL VMV P2 MK2 |
|---|---|---|
| Socket | XLR4 | 4.4mm / 4-pin XLR |
| Power into 32Ω | 2.0 W | 8.0 W |
| Power into 300Ω | 1.0 W | 1.0 W |
| Output impedance | 0.25 Ω | <0.1 Ω |
| Output noise | not published | not published |
| Headphones it reaches 100 dB on out of 567 | 567 | 567 |
Through the balanced sockets the two are level on the same test: each reaches 100 dB on 567 of the 567 models here.
| Load | Schiit Mjolnir 3 | SMSL VMV P2 MK2 |
|---|---|---|
| 32 Ω | Published | Published |
| 150 Ω | Derived | Derived |
| 300 Ω | Published | Published |
| 600 Ω | Derived | Published |
Both makers publish a power rating. Schiit Mjolnir 3 publishes at 32 Ω and at 300 Ω; SMSL VMV P2 MK2 at 32 Ω, at 300 Ω and at 600 Ω. The other rows are worked out from those.
So the two columns are not equally firm row by row: at 600 Ω only the SMSL VMV P2 MK2 figure is the maker’s own. On those rows the derived number is the one to doubt first.
1 headphone reaches 100 dB on the SMSL VMV P2 MK2 but not on the Schiit Mjolnir 3 — Symphonium Titan.
566 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 Campfire Audio Andromeda 2020: SMSL VMV P2 MK2 has +28 dB of headroom there against +18 dB. 9 dB is about 8 times the power, which matters for peaks rather than for how loud the music sits.
The hiss columns are empty for SMSL VMV P2 MK2 because that maker publishes no output noise figure.
| Headphone | Impedance | Needs | Schiit Mjolnir 3 headroom | SMSL VMV P2 MK2 headroom | Schiit Mjolnir 3 hiss | SMSL VMV P2 MK2 hiss |
|---|---|---|---|---|---|---|
| Shure SE846 | 9 Ω | 0.04 mW | +38 dB | +48 dB | 42 dB | not published |
| Campfire Audio Andromeda 2020 | 9 Ω | 4.0 mW | +18 dB | +28 dB | 22 dB | not published |
| Audeze LCD-2 Classic | 70 Ω | 0.79 mW | +29 dB | +31 dB | 21 dB | not published |
| Beyerdynamic DT 1990 Pro (250Ω) | 250 Ω | 0.63 mW | +29 dB | +27 dB | 16 dB | not published |
| HiFiMAN HE400se | 25 Ω | 7.9 mW | +20 dB | +25 dB | 15 dB | not published |
| Audio-Technica ATH-R70X | 470 Ω | 1.6 mW | +23 dB | +21 dB | 9 dB | not published |
| Sennheiser HD 600 | 300 Ω | 6.6 mW | +19 dB | +17 dB | 5 dB | not published |
| HiFiMAN Susvara | 60 Ω | 50 mW | +11 dB | +13 dB | 3 dB | not published |
The Schiit Mjolnir 3 costs $39 more than the SMSL VMV P2 MK2, and on these three axes the money buys nothing: among the 567 models here there is not one that the Schiit Mjolnir 3 handles and the SMSL VMV P2 MK2 does not — not on power, not on the one-eighth rule, not on hiss. The traffic runs the other way: the cheaper SMSL VMV P2 MK2 drives one model to 100 dB that the Schiit Mjolnir 3 does not.
Only published figures count here; blank axes are counted separately.
Each in full: Schiit Mjolnir 3 and SMSL VMV P2 MK2.