With the rapid development of portable electronic devices, electric vehicles and large-scale grid energy storage devices, there is a need to enhance the specific energy density and specific power density of related electrochemical devices to meet the fast-growing requirements of energy storage. Battery-supercapacitor hybrid devices (BSHDs), combining the high-energy-density feature of batteries and the high-power-density properties of supercapacitors, have attracted mass attention in terms of energy storage. However, the electrochemical performances of cathode materials for BSHDs are severely limited by poor electrical conductivity and ion transport kinetics. As the rich redox reactions induced by transition metal compounds are able to offer high specific capacity, they are an ideal choice of cathode materials. Therefore, this paper reviews the currently advanced progress of transition metal compound-based cathodes with high-rate performance in BSHDs. We discuss some efficient strategies of enhancing the rate performance of transition metal compounds, including developing intrinsic electrode materials with high conductivity and fast ion transport; modifying materials, such as inserting defects and doping; building composite structures and 3D nano-array structures; interfacial engineering and catalytic effects. Finally, some suggestions are proposed for the potential development of cathodes for BSHDs, which may provide a reference for significant progress in the future.