Reinforced masonry shear walls (RMSWs) are responsible for resisting lateral loads from seismic and wind events as well as carrying gravity loads. Adding masonry boundary elements at the end zones of RMSWs has proven to provide the required ductility and stability of reinforced masonry shear walls with boundary elements (RMSW + BEs). The prediction and quantification of the wall's seismic performance during earthquakes is crucial. This study focuses on a numerical investigation of four fully grouted RMSW + BEs subjected to dynamic loadings. Previously tested RMSW + BEs under quasi-static cyclic loading are adopted in this study. The walls have aspect ratios of 1.5 to 3.2, vertical reinforcement ratios of 0.56 and 0.68%, and horizontal reinforcement ratios of 0.3 and 0.6%. A 2D numerical model was developed using the Extreme Loading for Structures (ELS) software to simulate the nonlinear seismic behavior of the RMSW + BEs. The numerical model was validated against the experimental results of the studied walls. Subsequently, the walls were subjected to incremental dynamic loading using a set of selected and scaled Eastern Canada simulated earthquake records from the Atkinson database. The seismic performance characteristics of the walls, such as the initial stiffness, stiffness degradation, idealized yield displacement, and ductility- and overstrength-related force modification factors, were quantified for both static and dynamic loadings of the walls. The results showed a variation between the results of both loading scenarios for the initial, effective, and ultimate stiffnesses, ductility- and overstrength-related force modification factors. Moreover, the wall lateral stiffness, strength, and energy dissipation were higher due to the dynamic loading than the quasi-static cyclic loading. This study highlights the variation of the dynamic response of RMSW + BEs compared to their counterparts when tested under quasi-static cyclic loading.