Since their discovery, metal-organic frameworks (MOFs) and covalent organic frameworks (COFs) featuring permanent nanopores have transformed the landscape of porous materials, excelling as platforms for catalysis, gas separation, and sensing thanks to their exceptional surface areas, adjustable pore sizes, and modular functionality. However, MOFs, while versatile, face stability challenges due to their coordination bonds, whereas COFs, although robust, lack metal sites, limiting their catalytic activity, redox functionality, and other metal-specific applications. To bridge these gaps, innovative porous materials, such as MCOFs, which incorporate metal ions into COF lattices; covalent cluster frameworks, formed by assembling metal clusters into covalent networks; and MOF-COF composites, which integrate the strengths of both systems, have emerged. This review explores the synthesis and design principles of these advanced materials, showcasing their applications and the unique advantages conferred by their composite nature. It provides insights into future directions and their potential to address key challenges in materials science and beyond.