Just don't let the sheath get bulky with lots of stuff. I settled on a multitool with pliers (Swisstool), firesteel (LMF army) and sharpening stone (DC4) . You could add one of the small coin-cell led lights such as the Photon, those are very light and take almost no space. Paracord wrapped around the sheath could be an idea, provided it is neatly tied and doesn't come off during walk.
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