Perman

Both stories revolve around a student who hide their identity as heroes. The heroes have similar friends.They both are challenged by villains/rivals and always win. They both have a mask/helmet and cape as their costumes and both are cartoons loved especially by kids. Both the shows have 25min episodes and have similar ratings (slightly above 6). However, Perman is older and in it's plot there are other supporting heroes with lesser known villains. In Mighty Masked Niyander, Niyander is the only hero with his sidekick , a birdlike creature named pidori. 

Both targets kids and have some moral lessons at end of the show. 

Both hare targeted for children in same age category. Plus if you enjoy one, you will certainly enjoy the other ^^