The dynamic information of microchannel systems with parallel and symmetric configurations is insufficient, which limits our ability to compare and optimize these systems in all directions. In this study, thermal and hydraulic characteristics in parallel and symmetric microchannel heat sinks (MCHSs) with porous fins cooled by phase change slurry are investigated. A 3-D steady state conjugate model is adopted to compare the effects of fin configuration, coolant type and structural parameters on hydrothermal properties of wavy MCHS. The variations of dimensionless parameters involving Nu, f, η (temperature control effectiveness) and PEF (performance evaluation factor) are considered to demonstrate the effectiveness of combined design on overall performance enhancement of wavy MCHS. Results indicate that lower temperature increment and higher pressure loss appear in wavy configuration with porous fins than in straight mode, and lowest thermal resistance arises in parallel porous fin design. At the narrow position of symmetric channel, the fluid changes from the low-speed drop-shaped micelle to high-speed bullet-shaped one with increasing A, which leads to higher Nu with larger pressure drop penalty. Due to the extended flow route and improved fluid mixing, η increases with decreasing wavelength in all cases, and η of porous microchannels with both phase change slurry and parallel fins is much larger than that of symmetric one and the one with only base fluid. Compared with wavy fin configurations with small and large ε, lower temperature and its more uniform distribution happen in the mode with medium porosity. In comparison with basic configuration, the parallel configuration with slurry as cooling medium has the maximum PEF value when the pore size is 0.14 mm, up to 1.64. Larger f increase occurs in wavy channel with increasing N, and the space shortening between adjacent channel cavities in symmetric mode makes the adjoining Dean vortices easier to contact and repel, thus making it appear larger rise of f than parallel mode. Compared with other channel parameters, it is not effective to improve the overall performance of wavy MCHS with porous fins by adjusting α. Overall, the throat effect of symmetric MCHS significantly occurs in channel configuration with larger A, bigger λ, lower ε, smaller dp, more N, and lesser α, leading to higher f rise than the parallel mode.