Strain　glass　is　a　frozen　disordered　state　of　local　lattice　strains　(martensitic　nano-domains).　It　is　usually　generated　by　doping　sufficient　point　defects　into　conventional　martensitic　alloy.　Recently,　a　new　approach　to　generate　strain　glass　was　reported,　that　is　to　introduce　many　nano-sized　particles/precipitates　into　normal　martensitic　alloy.　It　was　shown　that　the　transforming　behaviors　of　point　defects　induced　strain　glass　can　be　changed　by　external　stress,　which　causes　many　functional　properties.　In　this　study,　we　investigated　the　stress　dependent　transforming　behaviors　and　associated　functional　properties　of　the　newly　reported　nano-precipitates　induced　strain　glass　Ti48.7Ni51.3.　We　found　that　the　external　stress　induces　a　transition　from　strain　glass　state　into　martensitic　state　in　this　nano-precipitates　induced　strain　glass,　which　leads　to　the　shape　memory　effect　and　superelasticity.　Moreover,　the　transition　route　of　the　system　can　also　be　greatly　changed　by　external　stress,　resulting　in　the　stress　changed　damping　effect　and　elastocaloric　effect.　(C)　2014　Elsevier　B.V.　All　rights　reserved.