A method and apparatus for dynamic characterization of reliability wearout mechanisms is disclosed. The system comprises an integrated circuit incorporating a device under test to be measured, structure for inputting a waveform to the device under test for a first predetermined time interval, structure for disabling the inputting of the waveform to the device under test, structure for measuring one or more fundamental parameters of the device under test after a second predetermined time interval, and structure for calculating an aging estimate of the device under test without the influence of recovery effect based on the one or more measured fundamental parameters. The time between stressing and measurement is precisely controlled, providing for repeatable experiments, and serves to minimize measurement error caused by recovery effects.