HomeCompareVMM vs GBDC

VMM vs GBDC: Dividend Comparison 2026

VMM yields 152.33% · GBDC yields 11.86%● Live data

vsPost on X →
After 10 years · $10,000 invested · DRIP enabled
🏆 VMM wins by $6.17M in total portfolio value
10 years
VMM
VMM
● Live price
152.33%
Share price
$13.34
Annual div
$20.32
5Y div CAGR
0%
Payout ratio
50%
After 10 yrs · $10,000 · DRIP
Portfolio value
$27.02M
Annual income
$11,793,304.57
Full VMM 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 — VMM vs GBDC

📍 VMM 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 PeriodVMMGBDC
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, VMM + GBDC cover 0 of 12 monthsgood coverage

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

Tax Bracket Optimizer

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

VMM
Annual income on $10K today (after 15% tax)
$12,948.04/yr
After 10yr DRIP, annual income (after tax)
$10,024,308.88/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 $3,958,814.87/year in after-tax income after 10 years on $10,000
⚖️

Lazy Portfolio Split Optimizer

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

VMM: 50%GBDC: 50%
100% GBDC50/50100% VMM
Portfolio after 10yr
$23.94M
Annual income
$14,122,019.20/yr
Blended yield
59.00%
📊

Analyst Conviction Gap

Where Wall Street is most bullish on GBDC right now

VMM
No analyst data
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)

VMM buys
0
GBDC buys
0
No recent congressional trades found for VMM or GBDC in the last 90 days.
STOCK Act mandates disclosure within 45 days of transaction. Data via FMP.Full tracker →
MetricVMMGBDC
Forward yield152.33%11.86%
Annual dividend / share$20.32$1.50
Payout ratio50%50%
1-year div growth0%0%
5-year div CAGR0%51.1%
Portfolio after 10y$27.02M$20.85M
Annual income after 10y$11,793,304.57$16,450,733.83
Total dividends collected$25.03M$20.43M
Payment frequencyquarterlyquarterly
SectorStockBDC

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

YearVMM PortfolioVMM Income/yrGBDC PortfolioGBDC Income/yrGap
1← crossover$25,933$15,232.98$12,492$1,791.70+$13.4KVMM
2$64,668$36,919.32$16,527$3,160.58+$48.1KVMM
3$155,235$86,040.76$23,588$5,904.90+$131.6KVMM
4$359,131$193,029.45$37,141$11,901.65+$322.0KVMM
5$801,622$417,352.26$66,205$26,463.38+$735.4KVMM
6$1,728,371$870,634.65$137,452$66,612.65+$1.59MVMM
7$3,603,719$1,754,361.92$342,372$195,298.53+$3.26MVMM
8$7,274,588$3,418,608.68$1,053,292$686,954.33+$6.22MVMM
9$14,233,265$6,449,456.58$4,111,439$2,984,416.95+$10.12MVMM
10$27,022,898$11,793,304.57$20,849,974$16,450,733.83+$6.17MVMM

VMM vs GBDC: Complete Analysis 2026

VMMStock

Delaware Investments Minnesota Municipal Income Fund II, Inc. is a closed ended fixed income mutual fund launched by Delaware Management Holdings, Inc. The fund is managed by Delaware Management Business Trust. It invests in fixed income markets of the United States. The fund primarily invests in investment grade municipal bonds, which include airport revenue bonds, city general obligation bonds, continuing care and retirement revenue bonds, corporate backed revenue bonds, escrowed to maturity bonds, higher education revenue bonds, hospital revenue bonds, multifamily housing revenue bonds, municipal lease revenue bonds, parking revenue bonds, political subdivision general obligation bonds, pre-refunded bonds, public power revenue bonds, school district general obligation bonds, single family housing revenue bonds, state general obligation bonds, tax increment and special assessment bonds, territorial general obligation bonds, and territorial revenue bonds. It benchmarks the performance of its portfolio against the Barclays Municipal Bond Index. The fund was previously known as Voyageur Minnesota Municipal Income Fund II, Inc. Delaware Investments Minnesota Municipal Income Fund II, Inc. was formed in 1992 and is domiciled in the United States.

Full VMM 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 VMM vs GBDC comparison by email

Save your analysis + weekly dividend insights. Free forever.

More comparisons

VMM vs SCHDVMM vs JEPIVMM vs OVMM vs KOVMM 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.