Can't comment bout the Hugo by experience.
The Mojo is a great, mid-centric, very musical DAC/amp with no emphasis on both ends which, imo, is worth to get.
The Mojo 2 is more "linear" in comparison, but compensate this with the added xfeed and the "UHD- EQ" (DSP). And this makes it even greater, bc you're able to listen to a lot more headphones without sacrificing the fun of all of them. ( Imo and ymmv, of course )
I really liked the hell out of the Mojo, but I enjoy the Mojo 2 even more.
Now I can boost the low end on my Monitor 5, as an example, and it sounds miles ahead compared to listen to the Mojo og.
If I'd to choose, I'd go with Mojo 2 instead of Hugo bc of this feature.
If the Hugo would have the DSP functionality, that is another story.