A method of controlling an isolated DC-DC converter includes switching the primary side switching devices of the converter at a fixed first switching period and variable duty cycle during non-transient load conditions so as to transfer energy across the transformer of the converter during first energy transfer intervals separated by energy circulation intervals, such that the ratio of each first energy transfer interval to the first switching period is less than unity. The method also includes switching the primary side switching devices at a second switching period different than the first switching period during a transient load condition so as to transfer energy across the transformer during second energy transfer intervals of a duration determined so as to avoid saturation of the transformer core, and such that any energy circulation interval separating the second energy transfer intervals is shorter than the energy circulation intervals separating the first energy transfer intervals.