Metal chalcogenide/reduced graphene oxide (RGO) composites have gained significant interest as promising electrode materials for supercapacitor application. Herein, the effect of different chalcogens (O, S, and Se) on nickel-based bimetallic composites along with the addition of a scanty amount of a heteroatom (V) is investigated. Different sizes and electronegativity of the chalcogens alter the morphology of the composites. However, V doping does not change the morphology but regulates the crystalline strain, band-gap energies, and charge transfer kinetics of the materials. All these factors are very important in controlling the performance of a supercapacitor device. Among all the doped and undoped composites, Se-based electrode materials exhibit the highest supercapacitor properties. In a three-electrode configuration, the V-doped Ni-Mo selenide/RGO (VNMSeR) composite electrode exhibits the highest specific capacitance of ∼610 C g −1 (1220 F g −1 ) at 2 A g −1 current density with a superior rate capability of ∼73.7%. An asymmetric supercapacitor device has been fabricated using VNMSeR as positive and thermally RGO as negative electrode. The device exhibits a maximum energy density of ∼60.5 Wh kg −1 at a power density of 1.47 kW kg −1 and shows ∼83.4% retention (50.5 Wh kg −1 ) in energy density when the power density increases by ∼8.25-fold (12.12 kW kg −1 ).