Incremental Dynamic Analysis (IDA) is a technique to determine the overall seismic performance of structures under varied intensities of earthquakes. In this paper, the seismic performance of four-story steel braced frames equipped with superelastic Shape Memory Alloy (SMA) braces is assessed by performing IDA. The seismic response of SMA-braced frames was compared to that of corresponding Buckling-Restrained Braced Frames (BRBFs). Based on the results of this comparative study, the SMA-braced frames were generally effective in reducing maximum interstory drifts and permanent roof deformations. In addition, the SMA-braced frames demonstrated more uniform drift distribution over the height of the building. As the intensity of earthquake excitation increases, a higher response reduction can be expected for SMA-braced frames.