We report fabrication method and THz characterization of composite films containing either aligned metallic (tin alloy) microwires or chalcogenide As2Se3 microwires. The microwire arrays are made by stack-and-draw fiber fabrication technique using multi-step co-drawing of low-melting-temperature metals or semiconductor glasses together with polymers. Fibers are then stacked together and pressed into composite films. Transmission through metamaterial films is studied in the whole THz range (0.1-20 THz) using a combination of FTIR and TDS. Metal containing metamaterials are found to have strong polarizing properties, while semiconductor containing materials are polarization independent and could have a designable high refractive index. Using the transfer matrix theory, we show how to retrieve the complex polarization dependent refractive index of the composite films. Finally, we study challenges in the fabrication of metamaterials with sub-micrometer metallic wires by repeated stack-and-draw process by comparing samples made using 2, 3 and 4 consecutive drawings. When using metallic alloys we observe phase separation effects and nano-grids formation on small metallic wires.