The /m/ sound is spelled with <m> or <mm>. The /w/ sound is spelled with <w> or <wh> and is heard in the letter name Y. Notice how the homograph wound makes pairs with mooned and mound.
This is a contrast between a nasal continuant and a semivowel, both voiced and in the bilabial region of the mouth. The contrast only occurs initially or medially. It is a slight problem for Spanish speakers.
Interesting pairs include:
The mean density value is 2.2%. The lists make 107 semantic distinctions, a loading of 53%.
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Credit: John Higgins