We systematically investigate structural parameters, such as shape, size, elastic strain, and relaxations, of metal-assisted etched vertically modulated Si/SiGe superlattice nanowires by using electron microscopy, synchrotron-based x-ray diffraction, and numerical linear elasticity theory. A vertical Si/Ge superlattice with atomically flat interfaces is grown by using molecular beam epitaxy on Si-buffered Si(001) substrates. The lattice constants for Si and Ge are 5.43 and 5.66 Å, respectively, which indicate a lattice mismatch of 4.2%. This results in a strained layer in the boundary between Si and Ge leading to dislocations. These substrates serve as the starting material for nanostructuring the surface by using metal-assisted etching. It is shown that the high quality crystalline structure is preserved in the fabrication process, while the lattice mismatch is partially relieved by dislocation formation. Despite this highly effective relaxation path, dislocations present in the parent superlattice do not vanish upon nanostructuring for wires with diameters of down to at least 80 nm. We relate these observations to the applicability of silicon-based nanowires for high-performance thermoelectric generators.