Chronic Respiratory Diseases (CRDs), such as Asthma and Chronic Obstructive Pulmonary Disease (COPD), are leading causes of deaths worldwide. Although both Asthma and COPD are not curable, they can be managed by close monitoring of symptoms to prevent worsening of the condition. One key symptom that needs to be monitored is the occurrence of wheezing sounds during breathing since its early identification could prevent serious exacerbations. Since wheezing can happen randomly without warning, a long-term monitoring system with automatic wheeze detection could be extremely helpful to manage these respiratory diseases. This study evaluates the discriminatory ability of different types of feature used in previous related studies, with a total size of 105 individual features, for automatic identification of wheezing sound during breathing. A linear classifier is used to determine the best features for classification by evaluating several performance metrics, including ranksum statistical test, area under the sensitivity--specificity curve (AUC), F1 score, Matthews Correlation Coefficient (MCC), and relative computation time. Tonality index attained the highest effect size, at 87.95%, and was found to be the feature with the lowest p-value when ranksum significance test was performed. Third MFCC coefficient achieved the highest AUC and average optimum F1 score at 0.8919 and 82.67% respectively, while the highest average optimum MCC was obtained by the first coefficient of a 6th order LPC. The best possible combination of two and three features for wheeze detection is also studied. The study concludes with an analysis of the different trade-offs between accuracy, reliability, and computation requirements of the different features since these will be highly useful for researchers when designing algorithms for automatic wheeze identification.