The Wraith is favored among mercenaries, pirates, and slavers in the Terminus systems. Its high-impact damage and sturdy construction make it a popular "quick-draw" shotgun. A variant of the M-22 Eviscerator, demand for the Wraith is higher than ever, even though the weapon is banned in Citadel space. In order to lighten its weight, the Wraith holds fewer shots than the Eviscerator.
The Wraith delivers significantly more damage than the Eviscerator at the cost of holding less ammunition.
The Wraith also has a very quick reload time, especially when contrasted with other shotguns. This becomes more apparent when some form of reload-cancelling is utilized.
The aforementioned feature can be very useful as a Vanguard. If the chamber is overheated, hitting the reload button and then charging immediately thereafter will result in the Wraith being fully loaded and ready to fire upon impact.
The Wraith is also a relatively light shotgun, even more so when upgraded. This allows for bonus cool down speed, which can be very helpful for power-reliant classes.
The Wraith functionally contrasts the Claymore in a similar way that the Black Widow contrasts the M-98 Widow: It deals slightly more than half the Claymore's damage per shot, but has two shots per magazine. Unfortunately, the Wraith's low fire rate counteracts this advantage—while the Claymore can drastically increase its damage output by reload-cancelling, doing the same on the Wraith results in a less dramatic effect since it is still limited by its rate-of-fire. Still, the Wraith's good accuracy and light weight makes it a better choice for classes that rely on heavy power use.
The Wraith is currently the second lightest shotgun in the game, behind the Disciple. This makes the Wraith a very attractive weapon to the Vanguard who needs a powerful, light, long-range (especially with the Smart Choke) shotgun.
While it lacks the Claymore's or AT-12's raw damage, the Wraith is still fairly accurate even without the Smart Choke. Because of this, if one prefers to use it more for close quarters than medium range, one can opt to go for a Blade attachment or Shredder mod and combine that with the High Velocity Barrel. This gives you a shotgun that is more than capable of doing serious anti-armor, anti-guardian, or cover penetrating work, something that most other shotguns wouldn't be capable of doing because of the loss of accuracy or damage.