Very different sounding sets, the U18s has a darker presentation in the trebles to my ears whereas the Balmung is more neutral. Additionally, the Balmung is an imaging champ. Not saying the U18s doesn’t image well, but I find the Balmung to be excellent in this regard. Both are relatively new purchases, the U18s being the more recent, so I’ll do a direct comparison later and further reply to your inquiry.
I just spent the last 40 minutes comparing the U18s to the Balmung, so here is a summary of what I heard. First, a picture:
My source is the Lotoo PAW Gold Touch Ti. No eq was used in my listening. The album I used for my demo was Bahramji’s
Sufi Safir and the song was “My Life.” This is a popular album in my yoga community and is known for its bass drive. Additionally, I used my PWA Attila cable with both sets.
Starting off with the bass performance, the Balmung has more mid-bass presence compared to the U18s (Apex M15) which is more neutral in comparison although it digs out a bit more sub-bass than the Balmung. The mids/upper-mids on the Balmung are more forward sounding as if you were sitting close to the front of the stage while the U18s comes across as if you were sitting in the back half of the seating. Lower-trebles/trebles are sharper sounding due to their forward nature on the Balmung but not overbearing at all to my ears. The U18s is more relaxed, some might even say darker sounding in comparison.
Soundstage on the Balmung is wide but due to the forwardness of the mids, depth is more towards the back half of one’s head while the more relaxed presentation of the U18s is focused more in the front half of the head while the width of the stage is about equal between the two sets, extending just outside of one’s ears. Height is pretty close between the two. As we come to imaging, the Balmung has the ability to focus this aspect within its stage more to my liking although the U18s appears to have more micro-detail retrieval, so soft tinkling sounds come through adding to the U18s’ immersion. Dynamics favor the Balmung, especially macro dynamics.
So, as I mentioned earlier today, two very different sounding sets, both of which I enjoy although the type of music I’m listening to will determine which set I would favor for that recording. For instance, if I’m listening to metal or rock, I’ll typically choose the Balmung whereas if I’m listening to jazz or classical, I’ll likely grab the U18s.
@TheMiddleSky, I hope this gives you a good idea on the relative strengths to both designs.