There are many different properties between isoelectronic BN and carbon nanotubes. For example, BN nanotubes are semiconductors with wide band gaps weakly dependent on the diameter, helicity, and the number of tube walls, different from carbon nanotubes whose electronic properties depend on the chirality. In this review, comparative investigation results are presented to further clarify the different performances between BN and carbon nanotubes, involving Li ion intercalation, hydrogen storage, ammonia adsorption, chemical functionalization, nanowire encapsulation, and Stone-Wales (SW) defects.