TEAC UD-701N is one of the more “esoteric” DACs (pun intended, as the same DAC is available also under Esoteric brand). It is a discrete SDM DAC, similar to for example dCS and such. It can work as a direct DSD DAC in three configurations as well. It has also built-in digital filters, multi-bit modulator and a DSD modulator, so pretty much just like dCS. But it can deal with higher DSD rates than dCS and is quite a bit cheaper too.
So first let’s see 1k THD performance with default built-in multi-bit modulator:
And with the built-in DSD modulator:
And then with HQPlayer’s modulator:
And same for multi-tone, built-in multi-bit modulator:
Built-in DSD modulator:
And with HQPlayer’s modulator: