Hi!
If I understood correctly, you have a circuit providing a 500 kHz digital signal, sqare-wave like, with variable duty-cycle (that's PWM). In this case I think you need a DAQ device sampling at, at least, 100 times signal frequency, to verify duty cycle at 1%. This is to observe the effective wave provided by your circuit. In this case, the board you have doesn't fulfill your needs.
But maybe you only need to evaluate duty-cycle, for example with a power measurment. In this case, I suppose you may low-pass filter the PWM, and sample its "mean" value. But this works if youu modulate pulses "slowly" in time, for example, you set a duty cicle and you do not modify it, and you verify it's correct, and after you repeat acquisition with a different duty cycle.
Please, explain better your needs, and tell me if I understand correctly. Then we can go on on evaluating solutions, maybe i can do some simulations....
Have a nice day!
graziano