Hmmh yeah, maybe Topping D90SE measures nice here, but, it depends how you look at things.
I did run some measurements too.
View attachment 180265
OK, that looked decent, let's see how it looks like with -60 dBFS input:
View attachment 180266
OK, WTF is going on here? Let's try the same -60 dBFS signal with 352.8k rate:
View attachment 180267
OK, better, but something is still wrong. How about DSD256 input:
View attachment 180268
Better still, but still some noise floor modulation issues.
If we then take a half price DAC with same test, same DAC chip:
View attachment 180273
View attachment 180269
Now that's better!
And we can even go to about 250€ PCIe card based on AKM chip:
View attachment 180272
So maybe choosing a DAC based on the SINAD chart is not the best thing to do. I wasted 900€, and the D90SE stays in the box. I had totally opposite experience with the ADI-2 for example. Maybe more thorough testing by the manufacturer?