Peristaltic transport of water-based nanofluids in the presence of applied magnetic field is studied. Two different types of nanofluids (silver-water and copper-water nanofluids) are used in the analysis. Effects of mixed convection, viscous dissipation, Joule heating, and heat generation/absorption are considered. Long wavelength and low Reynolds number approximations are used in the mathematical modelling. Numerical solutions are obtained for the velocity, pressure gradient, pressure rise per wavelength, temperature, and heat transfer rate at the wall. Physical quantities of interest are studied through graphs and tables. Comparison of water, silver-water, and copper-water nanofluid is presented. Results show that velocity and temperature of ordinary water are larger than those of nanofluids. Maximum velocity, temperature, and heat transfer rate at the wall of silver-water nanofluid is relatively higher than the copper-water nanofluid.