A two-capacitor digital-to-analog converter circuit having circuitry to compensate for an unwanted capacitance is disclosed. The converter is configured to generate an average voltage on two capacitors for a sequence of bits in a digital word so that when the final bit is reached, the average voltage corresponds to an analog level of the digital word. The converter is configured to input and average the voltage on the two capacitors using different modes to minimize the effects of capacitor mismatch and switching capacitance on the accuracy of the conversion. The converter includes a buffer amp that has an input capacitance that can affect the conversion. Accordingly, the converter further includes capacitance compensation circuitry configured to provide a replica input capacitance that can be charged and discharged according to the bits of the digital word and coupled to the input capacitor to prevent the input capacitance from affecting the conversion.