A noninterfering measurement technique designed around spread spectrum time domain reflectometry (SSTDR) has been proposed in this paper to identify the level of aging associated with power semiconductor switches inside a live converter circuit. Power MOSFETs are one of the most age-sensitive components in power converter circuits, and this paper demonstrates how SSTDR can be used to determine the characteristic degradation of the switching MOSFETs used in various power converters. An SSTDR technique was applied to determine the aging in power MOSFETs, while they remained energized in live circuits. In addition, SSTDR was applied to various test nodes of an H-bridge ac-ac converter, and multiple impedance matrices were created based on the measured reflections. An error minimization technique has been developed to locate and determine the origin and amount of aging in this circuit, and this technique provides key information about the level of aging associated to the components of interest. By conducting component level failure analysis, the overall reliability of an H-bridge ac-ac converter has been derived and incorporated in this paper.Index Terms-Aging, converter, degradation, failure rate, matrix, mean time to failure (MTTF), reflectometry, reliability, spread spectrum time domain reflectometry (SSTDR).