For most people, I think the ZT Hinderers are better knives.
If your primary purpose is just a hard-use knife and value is a desired trait, the ZT Hinderers are better knives hands-down.
If fit-and-finish is more important than value and value is of minimal importance, the XM-18 is better hands-down. With that said, the F&F on the ZTs are generally excellent. The XM just takes it up a few notches.
As the ZT Hinderer and the XM-18 models have very different blades, one blade design may make it a better knife. I think the Spanto is one of the best hard-work blades currently around. Steel-wise, you see S35VN on most Hinderers, where as you see S35VN and ELMAX on ZT Hinderers. I personally think both steels are excellent and very similar in how they perform. As ZT is about to release Hinderer-ZTs with Bohler M390 steel, this could be a huge advantage for someone looking more for M390's properties over ELMAX or S35VN.
I have found the 3 and 3.5 inch Hinderers to be a good bit more compact than the ZT Hinderers, and I think they carry a little better and like the ergos a bit more.
The bottom line on functionality IMO is that the ZT Hinderers are more or less capable of everything the XM-18 is, and at a fraction of the price and without seeing sales prices 300% plus over MSRP.
If your primary purpose is just a hard-use knife and value is a desired trait, the ZT Hinderers are better knives hands-down.
If fit-and-finish is more important than value and value is of minimal importance, the XM-18 is better hands-down. With that said, the F&F on the ZTs are generally excellent. The XM just takes it up a few notches.
As the ZT Hinderer and the XM-18 models have very different blades, one blade design may make it a better knife. I think the Spanto is one of the best hard-work blades currently around. Steel-wise, you see S35VN on most Hinderers, where as you see S35VN and ELMAX on ZT Hinderers. I personally think both steels are excellent and very similar in how they perform. As ZT is about to release Hinderer-ZTs with Bohler M390 steel, this could be a huge advantage for someone looking more for M390's properties over ELMAX or S35VN.
I have found the 3 and 3.5 inch Hinderers to be a good bit more compact than the ZT Hinderers, and I think they carry a little better and like the ergos a bit more.
The bottom line on functionality IMO is that the ZT Hinderers are more or less capable of everything the XM-18 is, and at a fraction of the price and without seeing sales prices 300% plus over MSRP.