Ni-Mn-based metamagnetic shape memory alloys have been extensively studied due to their multifunctional properties including magnetocaloric effect (MCE), magnetoresistance effect, and magnetic-field-induced strain. However, the large intrinsic thermal hysteresis of these alloys sets a limit on further development for practical applications. Here, with a few atomic percent Al substitution, we greatly reduced the thermal hysteresis and transformation temperature interval while maintaining the large magnetization difference (ΔM) between austenite and martensite. The simultaneous achievement of a large ΔM and low thermal hysteresis leads to a remarkable enhancement in MCE upon Al substitution, and a maximum magnetic entropy change of 31.6 J/kg K is achieved under a field of 5 T in Ni39Co11Mn40Sn8Al2. Furthermore, our in situ high-energy X-ray diffraction experiments show that the Ni39Co11Mn40Sn8Al2 has good geometric compatibility between austenite and martensite, which accounts for the reduced thermal hysteresis in this alloy. This study is instructive for the development of high-performance magnetocaloric materials in the metamagnetic shape memory alloys.
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