SymPy itself is typically slower than Mathematica. We also have a fast
core written
in C++ (
https://github.com/certik/csympy), that seems to be quite
comparable to Mathematica speed.
It doesn't support Matrices yet, but it's on a TODO list.
Can you post your Mathematica or Matlab code that you want to do in SymPy?
We'll go from there.
Ondrej