Is HWAFF or GBDC a better dividend investment in 2026?

HWAFF currently yields 241.67% with a 5% 5-year dividend growth rate. GBDC yields 11.86% with 5% growth. The better choice depends on your goal: HWAFF offers higher current income.

What is the dividend yield difference between HWAFF and GBDC?

HWAFF has a forward dividend yield of 241.67% ($0.58/share annually). GBDC yields 11.86% ($1.50/share annually). The yield gap is 229.81 percentage points.

Home › Compare › HWAFF vs GBDC

HWAFF vs GBDC: Dividend Comparison 2026

HWAFF yields 241.67% · GBDC yields 11.86%● Live data

vsPost on X →

After 10 years · $10,000 invested · DRIP enabled

🏆 HWAFF wins by $18955150364549280.00M in total portfolio value

INVESTMENT

TIME HORIZON10 years

HWAFF

● Live price

241.67%

Share price

$0.24

Annual div

$0.58

5Y div CAGR

91.8%

Payout ratio

50%

After 10 yrs · $10,000 · DRIP

Portfolio value

$18955150364549300.00M

Annual income

$18,932,276,589,945,378,000,000.00

Full HWAFF calculator →

GBDC

● Live price

11.86%

Share price

$12.65

Annual div

$1.50

5Y div CAGR

51.1%

Payout ratio

50%

After 10 yrs · $10,000 · DRIP

Portfolio value

$20.85M

Annual income

$16,450,733.83

Full GBDC calculator →

Portfolio growth — HWAFF vs GBDC

📍 HWAFF pulled ahead of the other in Year 1

Annual dividend income

🛡️

Recession Test — Did They Cut Dividends?

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

Crisis Period	HWAFF	GBDC
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%.

📅

Dividend Calendar Overlap

Combined, HWAFF + GBDC cover 0 of 12 months — good coverage

Jan

—

Feb

—

Mar

—

Apr

—

May

—

Jun

—

Jul

—

Aug

—

Sep

—

Oct

—

Nov

—

Dec

—

HWAFF pays

GBDC pays

Both pay

Neither

💰

Tax Bracket Optimizer

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

HWAFF

Annual income on $10K today (after 15% tax)

$20,541.67/yr

After 10yr DRIP, annual income (after tax)

$16,092,435,101,453,570,000,000.00/yr

GBDC

Annual income on $10K today (after 15% tax)

$1,007.91/yr

After 10yr DRIP, annual income (after tax)

$13,983,123.76/yr

At 15% tax rate, HWAFF beats the other by $16,092,435,101,453,556,000,000.00/year in after-tax income after 10 years on $10,000

⚖️

Lazy Portfolio Split Optimizer

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

HWAFF: 50%GBDC: 50%

100% GBDC50/50100% HWAFF

Portfolio after 10yr

$9477575182274662.00M

Annual income

$9,466,138,294,972,697,000,000.00/yr

Blended yield

99.88%

📊

Analyst Conviction Gap

Where Wall Street is most bullish on GBDC right now

HWAFF

No analyst data

Altman Z

6.4

Piotroski

5/9

GBDC

Analyst Ratings

Buy

Hold

Consensus: Buy

Price Target

$14.00

+10.7% 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.

🏛️

Copy Congress — What Are Politicians Buying?

Senate & House STOCK Act disclosures (last 90 days)

HWAFF buys

GBDC buys

No recent congressional trades found for HWAFF or GBDC in the last 90 days.

STOCK Act mandates disclosure within 45 days of transaction. Data via FMP.Full tracker →

MetricHWAFFGBDC

Forward yield	241.67% ✓	11.86%
Annual dividend / share	$0.58	$1.50 ✓
Payout ratio	50%	50%
1-year div growth	0%	0%
5-year div CAGR	91.8% ✓	51.1%
Portfolio after 10y	$18955150364549300.00M ✓	$20.85M
Annual income after 10y	$18,932,276,589,945,378,000,000.00 ✓	$16,450,733.83
Total dividends collected	$18953650916156696.00M ✓	$20.43M
Payment frequency	quarterly	quarterly
Sector	Stock	BDC

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

Year	HWAFF Portfolio	HWAFF Income/yr	GBDC Portfolio	GBDC Income/yr	Gap
1← crossover	$57,052	$46,351.67	$12,492	$1,791.70	+$44.6K → HWAFF
2	$535,067	$474,022.02	$16,527	$3,160.58	+$518.5K → HWAFF
3	$8,541,515	$7,968,992.49	$23,588	$5,904.90	+$8.52M → HWAFF
4	$237,170,852	$228,031,431.03	$37,141	$11,901.65	+$237.13M → HWAFF
5	$11,603,514,258	$11,349,741,446.91	$66,205	$26,463.38	+$11603.45M → HWAFF
6	$1,007,773,094,032	$995,357,333,775.79	$137,452	$66,612.65	+$1007772.96M → HWAFF
7	$156,037,409,870,982	$154,959,092,660,367.62	$342,372	$195,298.53	+$156037409.53M → HWAFF
8	$43,174,823,007,642,776	$43,007,862,979,080,824.00	$1,053,292	$686,954.33	+$43174823006.59M → HWAFF
9	$21,377,359,442,919,993,000	$21,331,162,382,301,815,000.00	$4,111,439	$2,984,416.95	+$21377359442915.88M → HWAFF
10	$18,955,150,364,549,300,000,000	$18,932,276,589,945,378,000,000.00	$20,849,974	$16,450,733.83	+$18955150364549280.00M → HWAFF

HWAFF vs GBDC: Complete Analysis 2026

HWAFF — Stock

Hwa Fong Rubber (Thailand) Public Company Limited, together with its subsidiaries, manufactures and distributes tires and tubes in Thailand, rest of Asia, Europe, the United States, and internationally. The company operates in two segments, Sale of Goods and Services, and Investment. It offers tires and tubes for bicycles, motorcycles, and small logistics vehicles. The company markets its products under the DUNLOP, DURO, Q-UICK, and PREMIUM HFT trademarks. It is also involved in investing in bonds and securities; and the wholesale and retail trade of tires and tubes, and equipment. The company was founded in 1987 and is headquartered in Samutprakarn, Thailand. Hwa Fong Rubber (Thailand) Public Company Limited is a subsidiary of Hwa Fong Rubber Industries Company Limited.

Full HWAFF Calculator →

GBDC — BDC

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 →

📬

Get this HWAFF vs GBDC comparison by email

Save your analysis + weekly dividend insights. Free forever.

More comparisons

HWAFF vs SCHD HWAFF vs JEPI HWAFF vs O HWAFF vs KO HWAFF vs MAIN

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