An inductor based DC-DC converter of the present invention employs two power switches such that only a fraction of inductor current flows through sensing circuitry. The sensing circuitry itself is comprised of sense transistors instead of resistors in order to further reduce power dissipation and temperature variations. The sensing circuitry includes a differential power supply that modifies a sense current employed as feedback to one of its inputs. The sense transistors are selected and configured such that the sense current is a relatively constant fraction of the inductor current of the converter.