A low drop-out voltage regulator includes an error amplifier having a non-inverting input, an inverting input and an output. One of the non-inverting and inverting inputs is connected to a reference voltage. An output circuit is connected by way of the output of the error amplifier to an external load. The output circuit generates an output current and an output voltage for the external load. A current tracking circuit is coupled to the output circuit and receives the output current and generates a tracking current that tracks the output current. A load tracking-compensation circuit is coupled to the current tracking circuit and the output circuit, and generates a control voltage based on the tracking current and provides the control voltage to the output circuit.