High-rise buildings often use concrete-filled steel tubes because of their superior load-bearing capacity, among other benefits, compared to traditional columns. However, interface bond slip caused by shrinkage affects the structure’s strength and post-peak behavior. To overcome this issue, a shrinkage-compensating additive (SC) can be used at a dosage relative to the cement weight. In this study, fiber-based models (FBMs) are developed to investigate the compressive behavior of shrinkage-compensating concrete-filled steel tube (SCCFST) columns with varying concrete strengths and SC dosages. Effective material models for steel and concrete are adopted to simulate the behavior of the tube, unconfined concrete, and confined concrete core. Axial load-deformation envelopes obtained from the FBMs are then compared with those from previous experimental results, confirming that the developed numerical models can predict the load-carrying capacity of SCCFST columns. Furthermore, the axial load capacities from the numerical assessment of the benchmark SCCFSTs are compared with code-based prediction models. It is concluded that code-based load-carrying capacity models were overly conservative in predicting test results. A comparative assessment of different experimentally verified confinement models enabled replacing the confinement effect in CFST code-based models with more realistic values, resulting in significantly improved SCCFST capacity predictions. The realistic confinement model identified through the comparative assessment reduced the average difference between code predictions and experimental results by up to 84%, underscoring the need to incorporate enhanced confinement models into conservative code expressions to arrive at realistic SCCFST axial capacity predictions.