Bandizip is a fast and easy-to-use archiving tool with plenty of features.
There's good support for a wide range of file formats, for instance: the essentials (ZIP, RAR, TAR), the old standards (ARJ, LZH), and important file types which aren't always covered by the competition (7Z, APK, WIM, ISO, IMG, more).
The program is smart at compression. It understands which files can't be reduced in size very much - videos, say, or other archive files - and won't try to compress them (by default at least), so improving performance.
Full Unicode support means files with non-English characters in their names will be compressed and extracted properly.
And Bandizip comes with a raft of options to make sure you get the archives you need. So it can split archives across multiple files; cut them down to size with a choice of compression level; password-protect your archives for greater security; and create self-extracting files which can be restored even if you don't have an archiving package installed.
Note that this is the portable version of Bandizip.