If you absolutely have to fight one in melee in masters without a shield to bash them or a potion to resist them, hang back around 10-15 feet and wait for it to do it's charging ice-wall attack, then you have a window of a few seconds to lay on the hurt before turning (don't back off, turn) and sprinting at an angle so that his next one misses or falls short. Repeat
I laughed when I saw a book on ice wraiths that describes them as being easy to kill. Those things used to one shot me up til about level 30, and even now at level 50 if I try stand my ground and slash away I take pretty bad damage - I'd rather fight a deathlord.