In this paper a new buck-boost type DC-DC converter is presented. Its voltage gain is positive, all active elements operate under soft-switching condition independent of loading, magnetic isolation and self output short-circuit protection exist, and very fast dynamic operation is achievable by a simple bang-bang controller. This converter also exhibits appropriate PFC characteristics since its input current is inherently proportional to the source voltage. When the voltage source is off-line, it is sufficient to add an inductor after the rectifier, then near unity power factor is achievable. All essential guidelines to design the converter as a DC-DC and a PFC regulator are presented. Simulation and experimental results verify the developed theoretical analysis.