Forget CBA and buy these high-yield ASX dividend shares

Let's see why analysts are tipping these shares as buys for income investors.

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There's no denying that Commonwealth Bank of Australia (ASX: CBA) is a world-class business. With its dominant position in Australian retail banking and a strong track record of performance, it is easy to see why it has been a favourite among income investors for decades.

But even great businesses can be overpriced.

With its shares changing hands near record levels prior to the recent market selloff, its forward dividend yield is now firmly below 4%.

That might be acceptable during a low interest rate environment, but with other ASX dividend shares offering far higher dividend yields and upside potential, investors may want to look elsewhere with their hard-earned money.

With that in mind, let's take a look at two high-yield ASX dividend shares that could deliver more bang for your buck than CBA right now according to analysts. They are as follows:

A woman in a bright yellow jumper looks happily at her yellow piggy bank.

Image source: Getty Images

GQG Partners Inc. (ASX: GQG)

If you're looking for big dividend yields, then GQG is hard to ignore. The investment company has been delivering consistently high profits and generous shareholder returns since its ASX debut.

Goldman Sachs believes its shares are undervalued at current levels. The broker has a buy rating and a $3.20 price target on its shares.

As for income, the broker is forecasting fully franked dividends of 15 US cents in FY 2025, 17 US cents in FY 2026, and 19 US cents in FY 2027. At current exchange rates and its latest share price of $1.89, this equates to enormous dividend yields of 13%, 14.7%, and 16.4%, respectively.

HomeCo Daily Needs REIT (ASX: HDN)

For those seeking stable, property-backed income, HomeCo Daily Needs REIT could be a strong candidate. This real estate investment trust focuses on convenience-based retail centres anchored by tenants like Woolworths and Bunnings. These are properties people use regularly — regardless of economic conditions.

The ASX REIT has consistently delivered solid income returns, underpinned by long lease terms, high occupancy rates, and built-in rental increases. The good news is that it appears well-placed to continue this trend.

It is for this reason that the team at UBS currently has a buy rating and $1.35 price target on its shares.

In addition, the broker is expecting some good dividend yields. It is forecasting dividends per share of 8.5 cents in FY 2025 and then 8.1 cents in FY 2026. Based on its current share price of $1.23, this will mean yields of 6.9% and 6.6%, respectively.

Motley Fool contributor James Mickleboro has positions in Gqg Partners. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has recommended Gqg Partners and HomeCo Daily Needs REIT. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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