Don't balance the loot. Balance the chances.
Don't balance the loot. Balance the chances.
For example, a highly rare and powerful ring of charming can be nearly unusable if a party tries to defend a city from athe siege of an undead army. But aA big stack of relatively common holy water could be much more useful.
Which is more usable, or completely unusable, depends on the actual game scenario, depends on your DM style, depends on everything.
The most enjoyable isitems for the players, if they can allow them to commit important deeds: save the party, reach their (in-game) personal goals, etc.
If you don't have one, then create a list of player/character goals. List for each of the players, and each of the characters what they want to reach, and what is important for them: both of their characters, and their players.
Between the gaming sessions, think over the last session, and simply count, how many chances each of the players got, to reach these goals. Probably it won't be a really big number, I think it will be at most 2-5 in each of the sessions. Look, who is the smallest. He is the weak spot.
While you are preparing for the next session, create some scenarios for him, where he can fulfill some of his wishes in the list. If itWhether doing so requires to givegiving some magic items forto the party which only he can use efficiently, or creating a situation where he saves the party, or any other, it doesn't really matter.