ZMF Headphones Caldera – Full Review 2024
ZMF Headphones Caldera – Full Review
Introduction
Today, we’re going to speak about ZMF’s flagship headphones, the Caldera. Although ZMF is mostly renowned for its high impedance dynamic driver headphones, the company’s origins are in the modification of Fostex T50 planar magnetics.
This is the company’s first totally in-house developed and constructed planar magnetic headphone. Regretfully, I’ve never heard of any of ZMF’s earlier T50 adaptations, although they had a cult following and are still in use by a lot of people today. Fortunately, I have reviewed other ZMF headphones on this blog a few years ago, so I do have some familiarity with them.
The two headphones in question were the Verite, an open-back dynamic driver headphone coated in beryllium, and the Eikon, a closed-back dynamic driver headphone made of biocellulose. Since I had thoroughly liked both of those headphones, I was interested to see how things had changed since those reviews and to see what Zach, the proprietor of ZMF headphones, had developed for his first set of exclusive planar magnetic driver-based headphones.
The Caldera shares striking similarities in appearance with other ZMF headphones. The primary visual component, available in numerous varieties, are artisan wooden earcups. The Caldera pair I’m reviewing today is the natural oak wood model with black hardware that is currently in stock.
Currently retailing for $3500 USD, there is an alternate stock option available with coffee gold hardware and an aged oak finish for an additional $200 USD. Since our two previous evaluations of ZMF headphones on this blog, Zach and the ZMF team have significantly expanded the range of possible cosmetic options.
These are available as stabilized wood runs, stabilized/resin combo runs, and the standard limited edition wood runs. These headphones feature a huge range of colors and wood figuring, as well as different hardware color combinations, which combine to create some quite beautiful creations.
Similar to the rest of the ZMF headphone collection, the Caldera offers a wide variety of pad options to let you customize the sound to your own taste.
The headphones will always share basic characteristics with all pad options, but depending on the pads you select, they do differ significantly. I’ll be talking about the Caldera with the factory-installed leather pads for the remainder of this review. Later in the review, I will address each individual pad and its unique sound characteristics in a separate section.
Sonic Impressions
The caldera’s bass is essentially completely flat, which is typical of the majority of modern planar magnetic headphones. This implies that although they are undoubtedly not low-end rolled off or bass light, you can experiment with using equalization to enhance the low end if you would rather have a stronger bass response, as I do.
But I believe a lot of people will like the bass in its standard tune, and as previously said, you can adjust the tonal balance by using other pads. The Caldera’s low-end effect was very similar to that of the LCD-5 I also had at the time of this assessment.
With the various pad alternatives, this aspect did change quite a little, but even with the original pads, the Caldera is comparable to the Abyss 1266TC and quite close to the LCD-5, offering a significant amount of heaviness to kick drums, bass strikes, and other sounds.
When it comes to premium planar magnetic headphones, the Caldera falls somewhere in the middle in terms of speed and subtlety of bass response. It plays it straight down the center; it’s neither fast nor sluggish. All things considered, I was rather pleased with the Caldera’s low end; it stands out in some ways, can be readily adjusted with the various pad options, and enhanced using EQ to your desired level if necessary.
The Caldera’s midrange was different from what I was expecting, and it does demonstrate how ZMF now consists of distinct headphones, each with unique traits and characteristics, rather than necessarily having a “house sound.”
I believe that in the past, I mistakenly connected ZMF to a somewhat warmer and thicker presentation, but the Caldera does not fit that description. This is, of course, using the standard pads; as I indicated, things can alter depending on the pad selections, but in my opinion, the upper mids are rather forward and the lower mids are essentially neutral.
The low mid-range lacks any warm, gloppy substance. They don’t seem chilly or scooped out, which would result in a v-shaped characteristic, but they also don’t sound enhanced in any kind. I recently reviewed the Audeze LCD-5 and mentioned how the 3 kHz peak was bothering me. To my hearing, the peak of the Caldera is actually in the 2 kHz range, and the 3 kHz range is actually dragged down.
This approach to upper-mid tuning is incredibly appealing. This boost in the 2 kHz range is beneficial for cymbal crashes, synthesizer stabs, and rim shots on snare drums.
It sort of offers you the best of both worlds, in my opinion, when combined with the 3 kHz peak being brought down. Just enough of the area that can make things unpleasant and irritating is removed while maintaining the impact and forwardness that keep things interesting.
All in all, I think the Caldera’s stock tuning’s midrange is among the best of any headphones. I don’t find any parts irritating or the peaks excessively sharp, and the low mids aren’t too warm or pulled back, losing perceived detail and technical performance.
It sort of offers you the best of both worlds, in my opinion, when combined with the 3 kHz peak being brought down. Just enough of the area that can make things unpleasant and irritating is removed while maintaining the impact and forwardness that keep things interesting. All in all, I think the Caldera’s stock tuning’s midrange is among the best of any headphones. I don’t find any parts irritating or the peaks excessively sharp, and the low mids aren’t too warm or pulled back, losing perceived detail and technical performance.
The Caldera’s midrange was different from what I was expecting, and it does demonstrate how ZMF now consists of distinct headphones, each with unique traits and characteristics, rather than necessarily having a “house sound.” I believe that in the past, I mistakenly connected ZMF to a somewhat warmer and thicker presentation, but the Caldera does not fit that description.
This is, of course, using the standard pads; as I indicated, things can alter depending on the pad selections, but in my opinion, the upper mids are rather forward and the lower mids are essentially neutral. The low mid-range lacks any warm, gloppy substance.
They don’t seem chilly or scooped out, which would result in a v-shaped characteristic, but they also don’t sound enhanced in any kind. I recently reviewed the Audeze LCD-5 and mentioned how the 3 kHz peak was bothering me. To my hearing, the peak of the Caldera is actually in the 2 kHz range, and the 3 kHz range is actually dragged down. This approach to upper-mid tuning is incredibly appealing. This boost in the 2 kHz range is beneficial for cymbal crashes, synthesizer stabs, and rim shots on snare drums.
It is possible to adjust this, as previously noted, however with the stock pads, the treble response is just very little elevated above what I would consider to be neutral. When compared to other flagship planar magnetic headphones, the treble’s pace is quite similar to the low end’s, falling around in the middle of the pack. While it isn’t as swift as the Susvara, it is still quicker than the Meze Elite and has a superior transient response.
Technical Performance
The Caldera has an extremely strong technical performance overall, and in my opinion, it is the best ZMF headset I have ever had the pleasure of hearing. In terms of detail, the Caldera appears to be better at the “macro” than the “micro” aspects of things, although it’s not bad at either. I would say that they are quite comparable to each other in terms of larger features, although the Hifiman HE1000se, which was initially priced at $3500USD, does offer more information and low-level detail.
With the standard pads, the Caldera’s soundstage is comparatively medium-sized; yet, it shines in terms of depth and three-dimensional holography inside that medium-sized soundstage.
The stock pads have the highest depth and holographic quality; alternative pad variations provide other features while diminishing the aforementioned one. Although the current TOTL planar magnetic headphones are much more expensive, it cannot be emphasized, and they are also not the quickest or most detailed drivers.
However, the Caldera has a quality that I find lacking in those other quicker and more detailed drivers. It is difficult to put into words, but I feel the Caldera to have a “meat on the bones” and toothsome quality that is totally unrelated to frequency response.
They are simply enjoyable to listen to, and occasionally it is more valuable than any information or speed of the driver. Having said all of that, I must state unequivocally that the Caldera is a technical performance marvel in every way (detail, speed, etc.).
It is the most proficient ZMF product I have yet heard, and it only lags slightly behind headphones like the LCD-5 in these categories. I guess I’m attempting to communicate that the Caldera has additional features that, in my opinion, also fit under this section of the assessment. These features are more difficult to measure but are crucial to the entire enjoyment and experience of the headphones.
Build Quality
The Caldera’s fit, finish, and construction quality are all in line with those of other ZMF headphones. In other words, outstanding. There has been a modest improvement in the ZMF headband since I tested the Verite and Eikon.
It appears to disperse the headphones’ weight more effectively now that it is wider. For extended listening sessions, I found it to be rather comfortable. The weight of the Calderas will vary depending on the type of wood used, but the pair I’m reviewing in stock weighs about 500 grams.
I had no issues with the Caldera’s comfort during the review time, despite the fact that it is not as comfy as the Meze ELITE, a class leader in this regard. With the redesigned headband design, the 500 grams is evenly distributed and isn’t excessive.
The ZMF stock OFC cable, two stock pads, and two pads of your choosing are included with the Caldera. With a 60 ohm impedance and 95 dB/mw, the Caldera is incredibly easy to drive, especially when contrasted with the new Modhouse Tungstens or the HE6.
I should point out that if you have other high impedance dynamic driver-based ZMF headphones and an amp made especially for them (such as a low power OTL Tube amp), it might be worthwhile to experiment with different amping options with the Caldera. I experimented with a few different solid-state choices, but regrettably, I do not currently have any tube amplification. The Caldera appeared to enjoy a healthy amount of power and current.
Having saying that, I have to admit that the Caldera is a reasonably easy car to drive overall and can handle a lot of amps. It is worthwhile to experiment a little bit here, but it doesn’t have to be as powerful as some of the other flagship planar magnetic headphones on the market right now.
Pad Options and Mantle Mesh
Let’s now discuss the several Caldera pad alternatives. I have pairs of the following for this review.
-Caldera Leather Stock
-Thick Caldera Leather
Cowhide Caldera Thin
Caldera Suede
-Thin Ultra Perforated Caldera
-Mantle Mesh (described below; not a pad)
Caldera Stock Leather:
Out of all the options I tried, the default pads turned out to be my favorite. They enhanced the Caldera’s holographic 3D quality and soundstage depth while also delivering the most impact and slam. Their drawbacks were that they somewhat reduced the size of the soundstage and the overall image. The standard pads, which are primarily neutral and have a decent overall balance, also offered my preferred tone balance.
Additionally, I liked a somewhat low-shelf increase applied via EQ with the stock pads, but that is all up to personal opinion, so I would suggest a little trial and error to see what suits you best.
Caldera Thick Leather:
In fact, of all the options, these pads were my least favorite. The Caldera’s perceived warmth and low mids area were somewhat elevated. They lost the depth of soundstage and holographic 3D quality I loved so much about the original pads, but otherwise I didn’t think they added anything noteworthy to the headphones’ soundstage and imaging.
Having said that, I recently came across a forum post indicating that someone favors the Caldera Thick pads. As usual, the key here is personal testing and figuring out what you find most effective.
Caldera Thin Cowhide:
Out of all the pads I had here for testing, the Caldera Thin Cowhide pads were my second favorite. They made everything sound a little bigger and grander by enlarging the image. Although it is a trade-off for the overall image, you lose part of the depth of soundstage that comes with the default pads.
Because the pads are so thin, I was also surprised to discover that the cowhide helped highlight some of the treble’s detail without making it seem like there was more treble overall. The thin cowhide pads do slightly reduce the apparent low end, but I was able to boost it with EQ, so I had no issues with that.
Caldera Suede:
Since I always seem to like the feel of suede over leather, the Caldera suede pads are initially the most comfortable alternative available. In terms of sound quality, the Suede Caldera pads make everything seem a little bit more dry and well-separated by lowering the resonance of the Caldera sound. Similar to the cowhide pads, these pads do expand out the soundstage and increase the overall image size, but you do lose some low-end intensity and slam.
If you only have two pairs of pads (the stock being the other pair), the suede pads would make a very attractive backup alternative. However, I don’t think I would pick them as my primary pair for the Caldera.
Caldera Thin Ultraperforated:
The pads with ultra-perforations are intriguing. Although the standard pads increase the image size and open up the treble’s airiness, you do lose a lot of the holographic quality and soundstage depth that they are known for. They seem to slightly boost the perceived amount of detail present, but they don’t sound as dry as the suede pads.
These pads caused me more back and forth than any other. Although I doubt I would pick these as a first or even secondary pair, they do have some intriguing features if you’re searching for a solid third choice.
Mantle Mesh:
Also available to the Caldera is what ZMF has dubbed the “Mantle Mesh.” This is an additional $20 that the user pays directly to the driver. In essence, the Mantle mesh reduces the upper mids and treble frequencies by giving the driver an additional damping effect.
I didn’t know the Mantle Mesh was in the Caldera when I got it, and I thought the original tuning was rather dark and the upper mids and treble were too muted. Naturally, after seeing that the Mantle Mesh had been installed stock, I took it out and was met with a stock tuning that was much more to my taste and my ears.
I would strongly recommend this update if you have trouble with the Caldera’s highs and higher mids. If you are really treble sensitive, it could be a lifesaver. It would probably just make everything too smoothed over and bland for the typical individual, and it would blunt the sound too much. For some individuals, the mantle mesh is a really wonderful idea that could transform the Caldera from a “wow, that’s so bright” experience to one that is “this is awesome.”
Conclusion
All things considered, the ZMF Caldera are an excellent set of headphones. They appear to represent the pinnacle of ZMF headphones’ development to date. It’s been interesting to see ZMF develop and keep coming up with new ideas, from simple Fostex T50 modifications to a custom in-house created planar magnetic driver-based headphone.
The Caldera features all of the characteristics for which ZMF is renowned: unique tunings and artisan wood cups, all of which are produced internally by a group of individuals who are themselves headphone fans.
Although I haven’t heard all of the ZMF headphones, I have heard a few, and the Caldera is by far my favorite. In terms of technical performance, it is the best, but it’s also just entertaining to listen to. Just because it was wonderful to hear my old favorites with the Caldera again, I found myself going back and listening to them.
If you don’t mind waiting for a release date and spending a little extra, you can customize the Caldera with pads and the Mantle Mesh to your liking. There are also a variety of cosmetic options available for the Caldera, so it should be easy to find one that looks well on you.
Although I personally like the stock-aged oak with coffee gold, the stabilized releases’ sheer range of woods is quite remarkable. At $3500 USD retail, the Caldera is less costly than many of the most expensive flagship headphones available today, yet it has technical performance that is comparable to many of them. In addition to its technical capabilities, it boasts some of the best build and support available on the market, as well as a distinctive sound character that is very pleasing.
All things considered, I had a great experience with the Caldera and heartily recommend it, particularly if you’re searching for a planar magnetic flagship headset but want something a little different. Fantastic work, Zach and the ZMF crew!
