It depends on what you prefer, your budget, your weight tolerance, and how you are going to use it. I don't like knives for outdoor (woods or backyard use) that are under 5". That's because there isn't much I need to do with a small knife that I can't do with a larger knife, to a point. And if I need a small knife I can buy a Mora for less than $20 (I already have a few) and throw it away if I screw it up.
If you like quality knives, bushcraft and all around use, an Aurora will serve you well. The Aurora is on the short side for me, so I have an Aurora II which is 5.6". The price may also vary due to the type of steel and handle material. Just the handle material alone can vary the price by $75, the steel by $50.
The Aurora has been made in A2, 3V (my fav), and Cru-wear I think. You pay more for 3V and Cru-wear. I prefer 3V because it is much much tougher, holds a great edge, and is near stainless. 3V is a little harder to sharpen if you let it get dull, but I strop my blades after serious use so they don't get really dull. Cru-wear is supposed to be the premium and in some ways it is. And don't dismiss A2, it is a very good steel, just surpassed more recently by the super-steels.
The Aurora II comes in 3V only.
If you buy the simple Micarta handles, they are pretty reasonable for the steel and build quality. They always come with sheaths.
There are a number of other great manufacturers too, but I'm kind of a steel snob and will only buy fixed blade knives made in CPM-3V or sometimes Elmax, Cru-wear, CPM-154, or Busse's INFI.
Here are the knives I have that I can recommend:
- BRK Bravo Alpha (new DLT exclusive) 5.125" convex grind outdoor knife, 3V, tough knife with bushcraft tilt. Super comfy handle.
- LT Wright - Illuminous 5 (new knife maybe hard to find) - All around outdoor knife 5.7" scandi grind in 3V (wish it was a convex grind) A little heaver with great handle, a little larger in diameter. Gives me more leverage and light chopping power. 1.5" tall but thin blade. The first LT Wright knife that had the specs I want. The illuminous 5 and Bravo Alpha are my two favorites right now.
Bravo 1.25 - 5" knife that is a classic. I like the rampless or field model in 3V. Comes with the BRK convex grind. (BRK will remove the ramp for $25 if you don't like it or do it yourself). Comes in an LT version which has a little thinner steel in the blade. And a Bravo 1 version that is shorter. The handle is the superb.
Aurora II - I already mentioned this. Sturdy slicer, carver, great all around knife with the terrific Aurora handle. 3v steel makes it indestructible. I'm sure the shorter Aurora is great too.
Fox River EXT-2 (DLT exclusive) - This knife is only 4.5" of 3V, but it is an excellent knife (except the sheath is too big IMHO). It has a big belly for game prep. Super nice. I don't use this as often, but that's just because I like bigger knives.
Finally, I don't have this knife, but it caught my eye and a beautiful knife for someone who doesn't like big blades. It's the Gunny Sidekick (Knives Ship Free exclusive) really nice design using the Bravo handle.
*** edit **** The aurora scandi is a scandi-vex and is a nice grind, but I prefer the normal convex grind which BRK is known for.
