The main benefit with chelated iron is that it WON'T react with Calcium in the soil and form Calcium sulphate and Iron oxide like Iron Sulphate will. Iron oxide is "not" absorbed by plant roots.
EDTA is C10H12FeN2O8, Iron in the +2 oxidation state is called the ferrous ion, while iron in the +3 (Fe3+) oxidation state is called the ferric ion.
EDTA is used to solubilize iron(III) eg. Fe3+ in water. In the absence of EDTA or similar chelating agents, ferric ions form insoluble solids and are thus not bioavailable. And that is mostly due to Calcium in the soil.
One issue with EDTA Iron is that the plant have to expend more energy in the form of enzymes in order to get the Fe3+ out of the chelation molecule.
Foliar Iron sulphate is a cheap good alternative.
Iron Ammendments to will help if the tree is missing Iron or In high does it will raise the soil EC level which can be good if your soil is low EC (bellow 200microSiemens). But a EDTA dose of Iron to the soiul won't change soil EC in any measurable way. But if you add heaps of Iron sulpahte it would, Iron sulpahte is very cheap.