Concrete-filled steel tubular Y-shaped (CFST-Y) piers are good candidates for meeting the structural and aesthetic requirements of bridges. By using the theoretical and nonlinear static (pushover) analyses, the seismic performances of three types of CFST-Y piers were evaluated at different seismic hazard levels. The theoretical formulas were first proposed to estimate the lateral stiffnesses for piers with different pier–deck connections. Then, the structural ductility with the development of plastic hinges in piers was investigated based on the pushover analyses. The results demonstrate that the structural dimensions, deck mass, shear limit, and stiffness of bearings can remarkably affect the formation of hinges and thereby lead to different energy dissipation patterns to achieve the expected performance in piers. The findings suggest an economic design strategy of piers, using CFST-Y members as energy dissipation fuses with multiple hinges, to achieve low-level seismic performance cost-effectively.