Assuming you're not particularly open to alternative suggestions, I would have to say Sebenza. From a purely practical standpoint, it's the better option.
Hinderer XM-18s are well-built, but the design is chunky and you lose a significant amount of cutting edge to a finger-choil of contestable value on a 3-inch blade.
DLT Trading is an exclusive(?) vendor of choil-less XM-18s, though, so there is that option. That said, I would still choose a Sebenza just because of the better cutting geometry, warranty service, ease of maintenance, weight, percentage of usable blade, pocket real-estate, etc. Basically everything about the Sebenza has a practical superiority over the XM series.
...This is the part where I also say I wouldn't choose either because the value you get for $400+ is really kinda poor given the current knife market, and I would suggest spending that money on a nice Spyderco, Reate, WE, or Cold Steel knife. Or two. You're looking at a $200+ hype and reputation fee with either brand.