Circuits are provided for modeling and characterizing the switching of magnetic tunnel junctions (MTJ) elements. More specifically, ring oscillators loaded with MTJ elements are used to characterize magnetic tunnel junction (MTJ) element performance. The circuits can include a ring oscillator (RO) having an odd number of inverters connected in series with a magnetic tunnel junction (MTJ) element inserted between each inverter. In some embodiments, the magnetic tunnel junction (MTJ) elements are arranged to act as a load to the inverters. The circuits optionally include one or more of a time to amplitude converter, a pulse distribution analyzer and/or PFET(s) and NFET(s). Methods of characterizing the switching characteristics of MTJ elements are also provided herein. Such MTJ elements can be suitable for use in magnetoresistive random access memory (MRAM) devices. Methods of making the ring oscillator are further provided herein.