Energy storage devices that efficiently use energy, in particular renewable energy, are being actively pursued. Aqueous redox supercapacitors, which operate in high ionic conductivity and environmentally friendly aqueous electrolytes, storing and releasing high amounts of charge with rapid response rate and long cycling life, are emerging as a solution for energy storage applications. At the core of these devices, electrode materials and their assembling into rational configurations are the main factors governing the charge storage properties of supercapacitors. Redox‐active metal compounds, particularly oxides and hydroxides that store charge via reversible valence change redox reactions with electrolyte ions, are prospective candidates to optimize the electrochemical performance of supercapacitors. To address this target, collaborative investigations, addressing different streams, from fundamental charge storage mechanisms and electrode materials engineering to need‐tailored device assemblies, are the key. Over the last few years, significant achievements in metal oxide and hydroxide–based aqueous supercapacitors have been reported. This work discusses the most recent achievements and trends in this field and brings into the spotlight the authors' viewpoints.