How many phonemes do the words raise and ways have in common?

* Raise: /reɪz/ has 3 phonemes: /r/, /eɪ/, /z/

* Ways: /weɪz/ has 3 phonemes: /w/, /eɪ/, /z/

Therefore, the words "raise" and "ways" share two phonemes in common:

* /eɪ/ (the diphthong "ay")

* /z/ (the voiced alveolar fricative)