The physics of compensated magnets (antiferromagnets, altermagnets, ferrimagnets at magnetic compensation, and synthetic antiferromagnets) is very rich, sometimes unique and unexpected compared to their ferromagnetic counterparts. New types of effects allowed in compensated magnets include ultrafast (THz) dynamics, pseudospin magnonics, (self-)compensated skyrmions, staggered topology, and compatibility with spin-polarized triplet superconductivity. The use of compensated magnets, therefore, constitutes a paradigm shift for the development of new spintronic components, beyond what is possible with the traditional ferromagnets. This special collection provides the reader with the latest material developments exploring the cutting-edge fundamental physics and promising applications of compensated magnets.