AbstractSo far shape memory alloys (SMA) are mostly characterized by their thermo‐mechanical behavior due to the underlying thermal effect. In technical applications however, where their benefits like low weight and compact design become relevant, they are activated electrically. This work presents methods for a thorough and systematic characterization of SMA wire samples under Joule heating with the focus on aspects relevant for applications. The goal is to achieve a precise understanding of the sensor and actuator properties of SMA wire samples with different trainings under varying loads. All experiments are conducted on a custom designed test bench with a commercially available NiTi wire with 72 μm diameter, which enables the direct comparisons of tensile tests to actuation tests. The characterization consists of tensile tests and actuator tests with varying load and heating power for differently trained wire samples. The results vividly represent the influence of heating power, training and changing loads on stroke output, working point and the functional stability of SMA actuator wires. Especially, the evolution of the resistance signal and the influence of the R‐phase on self‐sensing is discussed. The proposed method enables to compare and choose the best suitable alloy with a fitting training for a desired application.