Through lots of trial and error, we have found the most effective way to implement the Most 100 common words (Also known as M100W, M100 or Magic Words) in the early years classroom is to not only have students learn how to spell the words, but how to sight read them too.
From the M100 Website:
Magic Words are the most important words in reading
Magic Words are the most common words in English and are the most important words in learning to read.
Magic 100 Words make up half of all the words in reading.
Magic 200 Words (101-200 words) make up 65% of the words in reading.
Magic 300 Words (201-300 words) make up 70% of the words used in reading.
Learning the Magic Words rapidly improves reading, increases fluency and develops comprehension.
( https://www.magicwords.com.au/ )
The best way to track this data is to make sure students are having regular attempts at reading and spelling the words. I have found that testing the students at least once per term, and looking for growth is highly effective. Use these sheets as a way to easily see new growth throughout the year. There is plenty of space to write notes at the bottom, as well as space for several attempts and results.
Keep an eye out for my other M100/ M200/ M300 resources, coming to my TPT store soon.