A method of fabricating a high-performance capacitor that may be incorporated into a standard CMOS fabrication process suitable for submicron devices is described. The parameters used in the standard CMOS process may be maintained, particularly for the definition and etch of the lower electrode layer. To reduce variation in critical dimension width, an Anti-Reflective Layer (ARL) is used, such as a Plasma Enhanced chemical vapor deposition Anti-Reflective Layer (PEARL) or other Anti-Reflective Coatings (ARCS), such as a conductive film like TiN. This ARL formation occurs after the capacitor specific process steps, but prior to the masking used for defining the lower electrodes. A Rapid Thermal Oxidation (RTO) is performed subsequent to removing the unwanted capacitor dielectric layer from the transistor poly outside of the capacitor regions, but prior to the PEARL deposition. Another embodiment instead eliminates the capacitor dielectric removal step, which is then replaced by a step to form an additional layer that is later etched away to leave spacers on the capacitor sides, thereby eliminating any undercutting of the dielectric.