A multiple phase buck converter or boost converter, or buck-boost converter has an inductor in each phase. The inductors are inversely coupled. In a first embodiment, the converter includes a toroidal magnetic core with inductors extending under and over opposite sides of the toroidal magnetic core. The coupled inductors are thereby inversely coupled and have a relatively low ohmic resistance. In a second embodiment, the converter comprises a ladder-shaped magnetic core (i.e. having parallel sides, and connecting rungs). In this case, the inductors extend under the sides, and over the rungs. Each inductor is disposed over a separate rung. The ladder-shaped magnetic core is preferably disposed flat on a circuit board. Inverse coupling and low ohmic resistance are also provided in the second embodiment having the ladder structure.