I think the iPhone by itself may have issues supplying enough power to the KA17, you might need to ask the others as I'm not an Apple user, but I saw many reports of this power discrepancy on forums. Thankfully, the FA17 has a separate USB-C port for power, so no worries if the iPhone has anemic power, just put an external power bank or something to power the FA17.
The PEQ is a gamechanger for those that wanna change the tonality of the stock KA17, but unfortunately it does not work on Apple phones currently, so PEQ is only available for Android Fiio control app.
Otherwise, the M15 has no LED screen, PEQ, app or DAC filter settings. It has no independent volume controller too.
The M15 is behind in power output, and can't drive too demanding stuff. KA17 on beast desktop mode 4.4 mm can hit 650 mW which should power everything out there other than outliers.
The M15 has weaker soundstage and imaging, with less dynamics. It also hisses with some sensitive IEMs, with EMI present on occasions.
In a nutshell, the M15 costs more, but actually doesn't perform as well as the cheaper KA17. Especially if you can power the KA17 well or can unlock its PEQ on Android, the KA17 is a better dongle. It can power the HD6XX on desktop mode 4.4 mm surely, but please don't attempt to power it via just an iPhone itself (possibly only the iPhone 15 has enough power? but I think the older iPhones have issues supplying enough power to the KA17?)