The fabrication of large area binary magnetic nanostructures made from one or two ferromagnetic materials (Ni and Ni80Fe20) is reported using self-aligned shadow deposition technique. The static and dynamic properties are characterized using magneto-optical Kerr effects (MOKE) and broadband ferromagnetic resonance spectroscopy. Compared with Ni80Fe20 nanomagnets made using a conventional lithographic technique from identical resist templates, tunable magnetization switching is observed with a marked increase in the coercive field and more adjustable dynamic response for the Ni80Fe20/Ni80Fe20 and Ni/Ni80Fe20 binary structures. The results are validated by direct domain imaging using magnetic force microscopy and micromagnetic simulations.