This paper analyzes the performance of a three-phase converter architecture with a reduced common mode voltage to be used in electric motor drives. Starting from the classical three-phase bridge architecture, two additional switches are inserted in the DC link, in order to decouple the source from the load during the freewheeling intervals. Ad-hoc modulation strategies are introduced and evaluated against the classical three-phase space vector modulation. Three main parameters are analyzed: common mode voltage, efficiency and reliability. Experimental measurements on a converter prototype are used to evaluate the common mode performance. The efficiency in the case of Si-IGBT and SiC-MOSFETs is experimentally evaluated. Reliability analysis performed with a Coffin-Mason model showed that the higher efficiency offered by the SiC devices allows for a marked extension of the lifetime.