Another vote for reading eggs - as a parent and a teacher.
Knowing high frequency words by sight, especially those that don't follow phonic rules, is a valuable reading skill but shouldn't be used in isolation. The practice work being sent home is typically not a representation of the entire in-class literacy program. More it is just selected tasks that are easy for parents to get involved in too.
A favorite activity of mine is to hunt for the list words. Eg. In a magazine or newspaper, on signs at the shops. Also, write the words with water on concrete and watch them fade. Make groups of pebbles with the same number of sounds as the word (reading eggs will give you ideas too). Lots of things you can do beyond drills.
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