This study compares the AC susceptibility, FC-ZFC and hyperfine interactions of Sr(CoxZrx) Fe12-2xO19 and Sr(NixZrx)Fe12-2xO19 hexaferrites (HFs) manufactured via ultrasonic route. The formation of M-type hexaferrites have been confirmed by X-ray powder diffraction (XRD), Fourier transform-infrared spectroscopy (FT-IR) and high-resolution transmission electron microscopy (HR-TEM) techniques. Scanning electron microscopy (SEM) presented the hexagonal-platelet morphology of products. The variation in isomer shift, line width, quadrupole splitting and hyperfine magnetic field values of them have been governed by Fe-57 Mossbauer spectroscopy which showed that Co2+ and Zr4+ ions located at generally octahedral and 2b sites, while Ni2+ and Zr4+ ions located at octahedral 12k and 4f(2) sites. Measurements of magnetization versus temperature (M-T) and AC susceptibility versus temperature were carried out. The various synthesized HFs displayed ferrimagnetic behavior in the temperature interval of 10-325 K. Super-spin glass-like behavior was noticed at lower temperatures. Neel-Arrhenius and Vogel-Fulcher models were used to explore the experimental AC susceptibility. It was showed that a lower Co-Zr substitution content leads to strengthen the magnetic exchange interactions, however even low Ni-Zr substitution content provoke a reduction in magnetic exchange interactions.