Effective heat transfer has been a favorite issue in industrial applications as industrial equipment trends towards high performance and density. Although static mixers are widely employed for heat transfer enhancement, research on tongue groove type static mixer (TGSM) remains limited. Thus the TGSM is chosen to examine the thermal and hydraulic characteristics. Both nanoparticles and liquid metal are popular thermal management materials today. As an emerging heat transfer enhancement material, liquid metal avoids common drawbacks of nanoparticles (e.g., agglomeration and precipitation). However, comparative studies between liquid metal and nanofluids remain scarce. Therefore, three hybrid nanofluids (SiC/SWCNT-H2O, Al2O3/SWCNT-H2O, and Al2O3/SiC-H2O) and liquid metal solution are selected to evaluate and analyze the heat transfer and flow characteristics in terms of heat transfer efficiency, energy consumption, and economy. The simulation is carried out using ANSYS fluent 16.1 with SST k-ω and Mixture model selected under turbulent conditions. It is found that the TGSM has a significant pressure drop advantage over the Kenics static mixer (KSM). Although the heat transfer efficiency of TGSM is not as good as that of KSM, the performance evaluation criteria (PEC) is more significant. The addition of liquid metal/nanoparticles improves the convective heat transfer coefficient of the fluid, which increases linearly with Reynolds number (Re). Among the four working fluids, SiC/SWCNT-H2O shows the largest Nusselt number (Nu, strength of convective heat transfer relative to pure thermal conductivity), followed by Al2O3/SWCNT-H2O, Al2O3/SiC-H2O and liquid metal solution. This suggests that SiC/SWCNT-H2O is an effective fluid to increase the heat transfer rate in TGSM. Meanwhile, SiC/SWCNT-H2O also demonstrates the best performance as a working fluid in terms of field synergy and entropy production within the TGSM. The PEC ranges from 4.67~7.33, while increasing the field synergy number by 5.09~6.81 times and reducing entropy generation ST by 87.2%~89.2%.