The DAC-040Mk2 ULT2 is the high-resolution, twin-input variant of Concert Fidelity's DAC-040Mk2, and the only one of the three ULT and NOS versions that accepts DSD. Instead of the Philips 16-bit part used in its siblings it carries an AKM 32-bit converter. Concert Fidelity builds each unit by hand at its Nagano workshop, where founder Masataka Tsuda has designed every product since the firm opened in 1987.
Key specs that matter
A USB 2.0 Type B port feeds a USB Audio Class 2 receiver module that delivers I2S at up to 32 bits, as well as DSD64 and DSD128, through an I2S buffer to the converter. The second input is S/PDIF coaxial at 75 ohm, fitted with BNC as standard and RCA on request. Behind the AKM chip, two 12AU7 (ECC82) triodes form the valve buffer and gain stage, and a single 6V4/EZ80 or 6CA4/EZ81 acts as rectifier. Standard gain is switchable between 6 dB and 12 dB, and a factory option lowers the pair of settings to 0 dB and 6 dB. There is one stereo RCA output. The unit is 450 mm across, 310 mm deep and 100 mm high, with a 12 kg net weight.
Engineering and use context
Concert Fidelity calls the digital sections of the DAC-040Mk2 a full custom order built from modules, and the ULT2 is the build to specify when a music library holds DSD files. The related DAC-040Mk2 HR uses the same AKM chip and USB module but has no coaxial input. Tsuda, with more than 45 years of valve and solid state amplifier design behind him, says his aim is to add nothing superfluous and to minimise the time the signal spends in the circuit. The rear panel exposes the 12AU7 sockets so tubes can be rolled from outside. The company supplies its products without valves. A mains transformer specific to the buyer's country is fitted - 100 V, 110 to 120 V, 220 to 230 V or 240 V - and failures abroad are not covered by warranty.
Pairing
A computer or network player running a USB Class 2 driver can send native DSD to the ULT2, while a CD transport connects to the BNC input. The unbalanced output calls for a line stage or integrated amplifier with RCA inputs, such as the CF-080LSX4, whose 12AU7 cascode circuit uses the same tube type. When the amplifier is already sensitive, the lower-gain version avoids surplus gain ahead of it.
Alternatives
The Concert Fidelity DAC-040Mk2 NOS offers a single input and the 16-bit Philips non-oversampling chip for owners who play only CD-rate files.