An active shunt ammeter for measuring current flowing through a device under test (DUT) and method are disclosed. The active shunt ammeter includes an input configured to receive an input signal having a frequency within a frequency band and representing the current flowing through the DUT. An output is configured to generate an output voltage representing the current flowing through the DUT. The active shunt ammeter also includes a gain circuit having an amplifier with a gain characteristic that varies respect to frequency within the frequency band and a feedback element having an impedance coupled from an output of the gain circuit to a negative input of the gain circuit, the feedback element impedance being configured to change with frequency to correlate with the amplifier gain characteristic such that the feedback element impedance divided by the amplifier gain over the frequency band has minimal frequency dependency.