To　meet　the　increasing　demand　for　high　strength　and　non-combustible　shear　wall　systems　in　mid-rise　cold-formed　steel　(CFS)　constructions,　this　paper　investigates　the　seismic　performance　and　design　method　of　an　innovative　CFS　shear　wall　system　with　in-frame　corrugated　steel　sheathing　based　on　previous　studies.　Shear　wall　and　bearing　wall　specimens　with　in-frame　corrugated　steel　sheathing　are　tested　under　combined　lateral　and　gravity　loading.　Simplified　numerical　models　of　whole　archetype　buildings　are　established.　The　seismic　performance　evaluation　is　performed　using　methodology　recommended　in　FEMA　P695　and　the　seismic　performance　factors　are　examined.　The　test　results　show　that　the　shear　strength　of　the　innovative　shear　wall　is　much　higher　than　currently　code　certified　wood-based　shear　walls　in　AISI　S400.　Also,　the　shear　strength　of　bearing　walls　is　approximately　one-third　of　the　shear　strength　of　shear　walls,　which　proves　that　bearing　walls　also　contribute　significant　shear　resistance　in　a　structure.　The　seismic　performance　evaluation　results　verified　that　the　existing　seismic　performance　factors　(R　=　Cd　=　6.5　and　?　=　3.0)　for　CFS　shear　walls　with　flat　steel　sheathings　can　also　be　used　for　the　innovative　shear　wall　system.　The　innovative　CFS　shear　wall　system　with　in-frame　corrugated　steel　sheathing　could　be　employed　for　mid-rise　buildings　in　areas　that　are　prone　to　high　seismic　and　wind　loads.