HomeCompareCWAFF vs GBDC

CWAFF vs GBDC: Dividend Comparison 2026

CWAFF yields 4.41% · GBDC yields 11.85%● Live data

vsPost on X →
After 10 years · $10,000 invested · DRIP enabled
🏆 GBDC wins by $20.75M in total portfolio value
10 years
CWAFF
CWAFF
● Live price
4.41%
Share price
$0.68
Annual div
$0.03
5Y div CAGR
-6.6%
Payout ratio
50%
After 10 yrs · $10,000 · DRIP
Portfolio value
$24.6K
Annual income
$275.26
Full CWAFF calculator →
GBDC
GBDC
● Live price
11.85%
Share price
$12.66
Annual div
$1.50
5Y div CAGR
51.1%
Payout ratio
50%
After 10 yrs · $10,000 · DRIP
Portfolio value
$20.78M
Annual income
$16,389,263.41
Full GBDC calculator →

Portfolio growth — CWAFF vs GBDC

📍 GBDC pulled ahead of the other in Year 1

Annual dividend income

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Recession Test — Did They Cut Dividends?

How each stock treated shareholders during the 3 biggest crises of the last 20 years

Crisis PeriodCWAFFGBDC
2008–2009
GFC
— No data— No data
2020 Q1–Q2
COVID
— No data— No data
2022 Q4
Rate Hike
— No data— No data
Based on dividend payment history. "Increased" = dividend grew during crisis. "Maintained" = held within 3%. "Cut" = reduced by more than 3%.
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Dividend Calendar Overlap

Combined, CWAFF + GBDC cover 0 of 12 monthsgood coverage

Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
CWAFF pays
GBDC pays
Both pay
Neither
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Tax Bracket Optimizer

Which stock is actually better after tax? Adjust your rate to find out.

CWAFF
Annual income on $10K today (after 15% tax)
$375.00/yr
After 10yr DRIP, annual income (after tax)
$233.97/yr
GBDC
Annual income on $10K today (after 15% tax)
$1,007.11/yr
After 10yr DRIP, annual income (after tax)
$13,930,873.90/yr
At 15% tax rate, GBDC beats the other by $13,930,639.93/year in after-tax income after 10 years on $10,000
⚖️

Lazy Portfolio Split Optimizer

What's the optimal mix of CWAFF + GBDC for your $10,000?

CWAFF: 50%GBDC: 50%
100% GBDC50/50100% CWAFF
Portfolio after 10yr
$10.40M
Annual income
$8,194,769.33/yr
Blended yield
78.80%
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Analyst Conviction Gap

Where Wall Street is most bullish on GBDC right now

CWAFF
No analyst data
Altman Z
0.8
Piotroski
6/9
GBDC
Analyst Ratings
6
Buy
5
Hold
Consensus: Buy
Price Target
$14.00
+10.6% upside vs current
Range: $13.00 — $15.00
Altman Z
0.6
Piotroski
6/9
Analyst ratings via FMP. Altman Z-Score: >3.0 safe, 1.81–3.0 grey zone, <1.81 distress. Piotroski: 7–9 strong, 0–3 weak.
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Copy Congress — What Are Politicians Buying?

Senate & House STOCK Act disclosures (last 90 days)

CWAFF buys
0
GBDC buys
2
PoliticianChamberTickerTypeAmountDate
David P. Joyce🏢 House$GBDC▼ Sell$1,001 - $15,0002023-06-30
David P. Joyce🏢 House$GBDC▼ Sell$15,001 - $50,0002023-06-19
David P. Joyce🏢 House$GBDC▼ Sell$15,001 - $50,0002022-07-14
David P. Joyce🏢 House$GBDC▼ Sell$15,001 - $50,0002022-07-12
Teresa Leger Fernandez🏢 House$GBDC▼ Sell$15,001 - $50,0002021-01-20
David P. Joyce🏢 House$GBDC▲ Buy$1,001 - $15,0002020-02-25
David P. Joyce🏢 House$GBDC▲ Buy$15,001 - $50,0002019-05-30
STOCK Act mandates disclosure within 45 days of transaction. Data via FMP.Full tracker →
MetricCWAFFGBDC
Forward yield4.41%11.85%
Annual dividend / share$0.03$1.50
Payout ratio50%50%
1-year div growth0%0%
5-year div CAGR-6.6%51.1%
Portfolio after 10y$24.6K$20.78M
Annual income after 10y$275.26$16,389,263.41
Total dividends collected$3.5K$20.36M
Payment frequencyquarterlyquarterly
SectorStockBDC

Year-by-year: CWAFF vs GBDC ($10,000, DRIP)

YearCWAFF PortfolioCWAFF Income/yrGBDC PortfolioGBDC Income/yrGap
1← crossover$11,112$412.06$12,490$1,790.28$1.4KGBDC
2$12,290$399.68$16,522$3,157.73$4.2KGBDC
3$13,536$385.85$23,578$5,898.68$10.0KGBDC
4$14,854$370.96$37,115$11,886.75$22.3KGBDC
5$16,249$355.35$66,136$26,423.57$49.9KGBDC
6$17,726$339.32$137,257$66,491.44$119.5KGBDC
7$19,290$323.11$341,734$194,868.54$322.4KGBDC
8$20,947$306.93$1,050,788$685,133.02$1.03MGBDC
9$22,704$290.93$4,099,314$2,974,971.01$4.08MGBDC
10$24,569$275.26$20,775,530$16,389,263.41$20.75MGBDC

CWAFF vs GBDC: Complete Analysis 2026

CWAFFStock

China Water Affairs Group Limited, an investment holding company, engages in the water supply, environmental protection, and property businesses in the People's Republic of China. It operates through City Water Supply Operation and Construction, Environmental Protection, and Property Development and Investment segments. The City Water Supply Operation and Construction segment is involved in the provision of water supply operation and construction services. The Environmental Protection segment engages in the sewage treatment and drainage operation and construction, solid waste and hazardous waste, environmental sanitation, and water environment management businesses. The Property Development and Investment segment develops, sells, and invests in properties. It is also involved in the development and infrastructure of sightseeing area; provision of water environmental renovation infrastructure; constructs and operates drinking water; and investment, construction, and operation of water conservation and hydropower related projects, as well as energy conservation and environmental protection and hotel operations. The company was formerly known as China Silver Dragon Group Limited and changed its name to China Water Affairs Group Limited in December 2004. China Water Affairs Group Limited is headquartered in Wan Chai, Hong Kong.

Full CWAFF Calculator →

GBDCBDC

Golub Capital BDC, Inc. (GBDC) is a business development company and operates as an externally managed closed-end non-diversified management investment company. It invests in debt and minority equity investments in middle-market companies that are, in most cases, sponsored by private equity investors. It typically invests in diversified consumer services, automobiles, healthcare technology, insurance, health care equipment and supplies, hotels, restaurants and leisure, healthcare providers and services, IT services and specialty retails. It seeks to invest in the United States. It primarily invests in first lien traditional senior debt, first lien one stop, junior debt and equity, senior secured, one stop, unitranche, second lien, subordinated and mezzanine loans of middle-market companies, and warrants.

Full GBDC Calculator →
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⚠️ Educational purposes only. Not financial advice. Congressional trades sourced from SEC STOCK Act filings via FMP. Past performance does not guarantee future results.