HomeCompareMNARF vs GBDC

MNARF vs GBDC: Dividend Comparison 2026

MNARF yields 4.54% · GBDC yields 11.86%● Live data

vsPost on X →
After 10 years · $10,000 invested · DRIP enabled
🏆 GBDC wins by $20.82M in total portfolio value
10 years
MNARF
MNARF
● Live price
4.54%
Share price
$12.25
Annual div
$0.56
5Y div CAGR
0.6%
Payout ratio
50%
After 10 yrs · $10,000 · DRIP
Portfolio value
$27.2K
Annual income
$649.16
Full MNARF calculator →
GBDC
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 — MNARF vs GBDC

📍 GBDC 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 PeriodMNARFGBDC
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, MNARF + GBDC cover 0 of 12 monthsgood coverage

Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
MNARF pays
GBDC pays
Both pay
Neither
💰

Tax Bracket Optimizer

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

MNARF
Annual income on $10K today (after 15% tax)
$385.57/yr
After 10yr DRIP, annual income (after tax)
$551.79/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, GBDC beats the other by $13,982,571.97/year in after-tax income after 10 years on $10,000
⚖️

Lazy Portfolio Split Optimizer

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

MNARF: 50%GBDC: 50%
100% GBDC50/50100% MNARF
Portfolio after 10yr
$10.44M
Annual income
$8,225,691.50/yr
Blended yield
78.80%
📊

Analyst Conviction Gap

Where Wall Street is most bullish on GBDC right now

MNARF
Analyst Ratings
1
Buy
Consensus: Buy
Altman Z
0.8
Piotroski
5/9
GBDC
Analyst Ratings
6
Buy
5
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)

MNARF buys
0
GBDC buys
0
No recent congressional trades found for MNARF or GBDC in the last 90 days.
STOCK Act mandates disclosure within 45 days of transaction. Data via FMP.Full tracker →
MetricMNARFGBDC
Forward yield4.54%11.86%
Annual dividend / share$0.56$1.50
Payout ratio50%50%
1-year div growth0%0%
5-year div CAGR0.6%51.1%
Portfolio after 10y$27.2K$20.85M
Annual income after 10y$649.16$16,450,733.83
Total dividends collected$5.5K$20.43M
Payment frequencyquarterlyquarterly
SectorStockBDC
Analyst consensusBuyBuy

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

YearMNARF PortfolioMNARF Income/yrGBDC PortfolioGBDC Income/yrGap
1← crossover$11,156$456.34$12,492$1,791.70$1.3KGBDC
2$12,416$478.65$16,527$3,160.58$4.1KGBDC
3$13,786$500.83$23,588$5,904.90$9.8KGBDC
4$15,274$522.83$37,141$11,901.65$21.9KGBDC
5$16,888$544.61$66,205$26,463.38$49.3KGBDC
6$18,636$566.14$137,452$66,612.65$118.8KGBDC
7$20,528$587.38$342,372$195,298.53$321.8KGBDC
8$22,573$608.31$1,053,292$686,954.33$1.03MGBDC
9$24,782$628.91$4,111,439$2,984,416.95$4.09MGBDC
10$27,166$649.16$20,849,974$16,450,733.83$20.82MGBDC

MNARF vs GBDC: Complete Analysis 2026

MNARFStock

The REIT is an unincorporated, open-ended real estate investment trust established under and governed by the laws of the Province of Ontario. The Units of the REIT trade on the Toronto Stock Exchange under the ticker symbol MRG.UN. With a strategic focus on the acquisition of high-quality multi-suite residential properties in Canada and the United States, the REIT maximizes long-term Unit value through active asset and property management. The REIT's portfolio is comprised of 13,275 residential suites (as of October 27, 2020) located in Alberta, Ontario, Colorado, Texas, Louisiana, Illinois, Georgia, Florida, North Carolina, Virginia and Maryland with an appraised value of approximately $3.1 billion at September 30, 2020.

Full MNARF 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 →
📬

Get this MNARF vs GBDC comparison by email

Save your analysis + weekly dividend insights. Free forever.

More comparisons

MNARF vs SCHDMNARF vs JEPIMNARF vs OMNARF vs KOMNARF 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.