The words wreaks, reeks sound the same but have different meanings and spellings. Why do wreaks, reeks sound the same even though they are completely different words?
The answer is simple: wreaks, reeks are homophones of the English language.
Third-person singular simple present indicative form of reek.
Third-person singular simple present indicative form of wreak.
Definitions from Wiktionary, Creative Commons Attribution/Share-Alike License and Wordnik.
Homophones (literally "same sound") are usually defined as words that share the same pronunciation, regardless of how they are spelled.