Overview

The Holo Audio May DAC KTE is a flagship R2R DAC developed by the Chinese manufacturer Holo Audio. The KTE (Kitsune Tuned Edition) is the top-tier model with upgraded components from the standard version, priced at approximately 5,600 USD. It features proprietary discrete R2R ladder technology that does not rely on commercial DAC chips, operates in a characteristic NOS (non-oversampling) mode, and supports high-resolution formats up to DSD1024 and PCM 1.536MHz. While it is a symbolic product showcasing Holo Audio’s technical capabilities, its price and technological choices present challenges.

Scientific Validity

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The measured performance of this unit is very excellent. The THD (Total Harmonic Distortion) is less than 0.0001%, and the IMD (Intermodulation Distortion) is 0.0002%, both significantly clearing the transparent level defined by our policy. It demonstrates outstanding performance in key metrics, with channel separation exceeding 122dB and resolution reaching 22 bits. While this performance is top-class for an R2R DAC, from a market-wide perspective, some of the latest high-performance Delta-Sigma DACs can achieve superior or equivalent performance at a lower price, so it cannot be considered the absolute best available.

Technology Level

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The implementation of discrete R2R ladder technology achieves a high standard of design in the industry. It is noteworthy for achieving high linearity by minimizing resistor errors with a proprietary linear compensation circuit. The KTE version incorporates technologies that contribute to measurable performance improvements, such as an enhanced USB module and high-quality internal wiring. However, these technologies are optimizations within the R2R framework. Compared to the latest chip-based Delta-Sigma DACs, it offers no clear performance advantage and does not reach the pinnacle of absolute technical standards.

Cost-Performance

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We rate the cost-performance as extremely low. For its price of approximately 5,600 USD, there are more affordable and higher-performing options if one is not insistent on the internal technology. For example, the Topping D90 III Sabre (approx. 900 USD) offers superior measured performance, including a better SINAD value, at less than one-eighth the price. The calculation is 900 USD ÷ 5,600 USD ≈ 0.16, resulting in a score of 0.2. While some users may find value in the premium components and KTE tuning, it is difficult to justify its price from a pure performance-to-price ratio.

Reliability & Support

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Holo Audio is an established Chinese manufacturer with a solid track record, and the basic quality and stability of its products are well-regarded. The fact that its products retain a relatively high value in the second-hand market also suggests confidence in the product. It offers a standard warranty and support system, and the KTE version undergoes additional quality checks by the distributor. While its global support network may not match that of long-established Western companies, its reliability can be assessed as above standard for a product in this class.

Rationality of Design Philosophy

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The design philosophy of this product must be described as lacking scientific rationality. This is due to its adherence to the discrete R2R method, which offers no advantage in measured performance and tends to be high-cost. The excellent measurement results achieved by this unit serve as a technical proof that high performance is possible with the R2R method, but as long as equivalent or superior performance can be achieved at a lower cost with the Delta-Sigma method, the choice of technology is not rational. This suggests a prioritization of adherence to a specific technology or unscientific ideas like “R2R sounds better” over scientific evidence, leading to a low rating for design rationality.

Advice

The Holo Audio May DAC KTE achieves a transparent level in measured performance, and you are unlikely to be dissatisfied with its sound quality. However, its purchase should be considered with caution. If you are seeking pure performance, numerous Delta-Sigma DACs, such as the Topping D90 III Sabre, offer equivalent or better performance at a fraction of the price. The price of the May DAC KTE is largely for its specific R2R technology and premium components. Unless you find special value in this and have a very generous budget, you will achieve greater overall system satisfaction by investing the price difference in components with a greater impact on sound quality, such as amplifiers or speakers.

(2025.7.31)