A coupled inductor includes a ladder magnetic core, a first common leakage plate formed of a magnetic material, and N windings, where N is an integer greater than one. The ladder magnetic core includes first and second rails and N rungs, where each of the N rungs connects the first and second rails. Each of the N windings includes a respective first portion. Each of the N windings is wound around a respective one of the N rungs, and at least two of the N windings are wrapped at least partially around the first common leakage plate such that a first portion of the winding is disposed between an outer surface of the first rail and an outer surface of the first common leakage plate.