After earthquakes, residual inter-story drifts greater than 0.5% in buildings may indicate a complete loss of the structure from an economic point of view. Recently, research efforts have been extended to the utilization of superelastic shape memory alloy materials for the smart control systems that can automatically reduce the plastic deformation of the structure subjected to strong seismic loading. Superelastic shape memory alloys are unique metallic alloys that undergo substantial inelastic deformations and regain their original conditions when applied loads are removed, thus alleviating the problem of permanent deformation. The frame structures make the best use of such shape memory alloy’s recentering capability if the superelastic shape memory alloy segments used to replace the steel segments are installed at the part where large deformation is likely to occur. The primary focus of this study is on the seismic response of special steel concentrically braced frames and buckling-restrained braced frames, utilizing superelastic shape memory alloy braces. In order to examine the comparative residual inter-story drift response of both braced frames, 3- and 6-story buildings were designed in accordance with current code specifications, and then nonlinear time-history analyses for two seismic hazard levels were conducted on 2D analytical frame models. The braced frames with superelastic shape memory alloy bracing systems were also compared to those with conventional steel bracing systems. Overall, analysis results show that the superelastic shape memory alloy bracing systems are more effective in decreasing residual inter-story drifts than the conventional steel bracing systems.