The present disclosure provides an isolated multi-phase DC/DC converter with a reduced quantity of blocking capacitors. In one aspect, the converter includes a multi-phase transformer having a primary circuit and a secondary circuit magnetically coupled to the primary circuit, the primary circuit having a first quantity of terminals, and the secondary circuit having a second quantity of terminals; a third quantity of blocking capacitors, each being electrically connected in series to a respective one of the terminals of the primary circuit; and a fourth quantity of blocking capacitors, each being electrically connected in series to a respective one of the terminals of the secondary circuit. The third quantity is one less than the first quantity. The fourth quantity is one less than the second quantity.