Both Pentax MX-1 and Olympus XZ-2 iHS have 1/1.7-inch sized 12.0 MP resolution sensors so sensor size and resolution is not a differentiator between these two cameras.
Below you can see the MX-1 and XZ-2 iHS sensor size comparison.
Sensor Size and Resolution Comparison image of Pentax MX-1 and Olympus XZ-2 iHS Cameras
Pentax MX-1 and Olympus XZ-2 iHS have the same sensor sizes so they will provide same level of control over the depth of field when used with same focal length and aperture.
DxOMark Sensor Scores
At Camera Decision, we also look at Dxo Mark sensors when available as we think it is a good indicator of image quality.
Model
Overall
Color Depth
Dynamic Range
Low-light ISO
Pentax MX-1
49
20.4 bits
11.3 Evs
208 ISO
Olympus XZ-2 iHS
49
20.4 bits
11.3 Evs
216 ISO
Sensor size sets the circle of confusion, so it drives how much depth of field each
of these bodies gives you at a given aperture. You can calculate it exactly for the
Pentax MX-1
or the
Olympus XZ-2 iHS ,
including hyperfocal distance.