When comparing Mithril vs Polymer, the Slant community recommends Mithril for most people. In the question“What are the best client-side JavaScript MV* frameworks?” Mithril is ranked 6th while Polymer is ranked 13th. The most important reason people chose Mithril is:
Most other frameworks either offer a huge API to deal with model and view synchronization, or defer to other libraries & plugins to cater for relatively simple use cases. Mithril's API is tiny but complete. The natural reaction is to assume something is missing, but as you build you realise you incredibly fast, powerful and rich applications can be built using nothing but Mithril.
Specs
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Pros

Pro Small, easy to learn API
Most other frameworks either offer a huge API to deal with model and view synchronization, or defer to other libraries & plugins to cater for relatively simple use cases. Mithril's API is tiny but complete. The natural reaction is to assume something is missing, but as you build you realise you incredibly fast, powerful and rich applications can be built using nothing but Mithril.

Pro Fast rendering
Mithril's loading times are very fast. This is because it's templates are compiled first and then served to the browser and because it uses a virtual DOM. The virtual DOM is a virtual tree containing all the nodes of the real DOM, every time anything changes in the virtual DOM, Mithril does not re-render the entire (real) DOM, instead it just searches and applies the differences.

Pro No need to learn another syntax to write views
Most MVC frameworks use HTML templates to render their views. They are good and useful because they are easy to read and understand. But they add more complication to an app because it's practically a new language and syntax that needs to be learned.
Mithril argues that separating markup from logic is just a separation of technologies and not concerns, so you can write Mithril views in JavaScript. Writing them in JavaScript also makes it easier to debug them (HTML templates can't be debugged).

Pro Familiar to people used to MVC
Doesn't lock you into any complicated conventions or structures, only one function is required to create either a Controller or a View. You're free to implement your architecture exactly as you want, so you can focus on the purpose of MVC, making connections between computer data and stuff in the end user's head.

Pro Small size
Weights just 8Kb gzipped and has no dependencies. A reactive stream module can be added for one extra Kb.
Pro Great documentation
Mithril has a large and expansive documentation despite it's relatively small API. Mithril's GitHub repo has more documentation than actual source code. None of that documentation is auto-generated
Pro Allows a smooth transition from other UI frameworks
One thing you need to start using Mithril is just a DOM node. With Mithril a developer is able to introduce the library step by step.
Pro Allows you to choose which JavaScript libraries to integrate in your project
Mithril gives to the developer the flexibility to chose the best JavaScript library to use for a specific task.
A huge framework like Angular instead forces you to use their API, which does not necessarily evolve as fast as the JavaScript ecosystem. Therefore you may end up in case when you are stuck using an API which is just not the best in terms of performance
Pro Can be used without build systems
It's plain old JavaScript, can be used without webpack, gulp or grunt, just include it into your HTML and start writing your app.
Pro Does not force you into a predefined structure
Mithril's API is pretty small compared to other frameworks. It forces developers to solve problems in JavaScript rather than in Mithril. Other frameworks with massive APIs force you to think in a way that suits the framework. Mithril doesn't do that.
Pro Various basic components
It provides a base component.
Pro HTML markup is not string
HTML markup as it can be a non-string.
Pro Flex layout components
It provides Flex layout components.
Pro CSS is easy to apply
CSS can be applied far more comfortably than React.
Pro No need for special debugging tools
The presence od specialized debugging tools are advertised by competitors. The all features of web components are natively supported by browser embedded development tools.
Pro Excellent routing
The router is embedded into CLI for project creation and covers as web as Progressive web app, also fused with Polymer layouts out of the box. The shop template for CLI has a complete solution including the routing.
Pro Complete web app stack support
Full app stack from data tier to routing, progressive web app, responsive layouts makes no need to seek outside of Polymer ecosystem for application features.
In addition to waste set of mature web components in Polymer Elements along with Vaadin Elements there are thousands of web components in the wild comparable to jQuery plugins set.
Pro Excellent documentation
Polymer guides you as with tools (cli, build environment, app templates,..) as with complimentary documentation on all phases of app development from creation of app as progresive web app to production deployment instructions.
As Polymer is standards based, the whole community around those standards also helping in documentation and support.
Pro Based on web components
Web Components are a collection of specifications released by W3C as a way to reduce the complexity of web apps by creating reusable components. Browser support is currently poor for web components, however Polymer is developed to make web components compatible with modern browsers.
Pro API is easy to understand, based on standard
The Polymer APIs are split on application layers and follow standards on all possible ways: Web Components, CSS variables, async API via Promises and so on.
Cons
Con Small API can make it unsuitable for larger more complex projects
Mithril's small API and small number of functions while helpful for small projects and applications where speed is needed, can add another layer of complexity in larger more complex applications where a more extensive API is needed out of the box.
Con No server-side rendering
Polymer does not support server-side rendering. This results in higher loading times, more HTTP requests and it's not very SEO friendly, since search engines have no way of indexing a page if it's not rendered in the server.
