Ultra wide band - Multiple Input Multiple Output antenna technology provides higher data rates and the combination of the ultra wide band (UWB) and the multiple input multiple output (MIMO) technologies provides a solution for the demand of still higher data rates i.e. in excess of 3 Gb/sec in the future. As the antenna technologies are improving, the size of the MIMO antenna is growing smaller and smaller. Placing the antenna elements in such close proximity increases the coupling between them. Various isolation techniques have to be introduced between the antenna elements to decrease the coupling and to improve the isolation. A study of the various isolation enhancement techniques have been made in this review. It analyses the various isolation enhancement methods such as using orthogonal polarization, parasitic elements, varied decoupling structures, defected ground structures (DGS), neutralization line (NL) and finally by using metamaterials. Metamaterials is a technology to perk up the isolation between the antenna elements. Split ring resonator (SRR) behaves as a metamaterial and it is used as an isolation mechanism in this study. The antennas are simulated and the results are compared. The method using parasitic elements gives the highest isolation of 35 dB and it is 5 dB better than the methods using orthogonal polarization and using the decoupling structure. The performance of all the antennas satisfies the conditions for minimum isolation. The envelope correlation coefficient is nearly zero in all the antennas and it implies good diversity performance. The diversity gain is also calculated for the various antennas and it satisfies good diversity performance. The bandwidth of the antennas is in the UWB frequency range and they have a fractional bandwidth above the required value of 1.09. The capacity loss for all the antennas is very low and the antennas using defected ground structure and the decoupling structure gives very low capacity loss.