The best reading program is the one that works. Not all children can learn to read using the phonics method. If your child isn't learning using phonics, then try the sight-word approach. That's the benefit of homeschooling. We can vary our teaching methods to meet the needs of the child!
Phonics is currently VERY popular. But it isn't the only way.
"How to teach your Baby to read" by Glenn Doman and Janet Doman is a sight-word first approach to reading. It teaches a large vocabulary of sight words first, the child learns to read an entire book, and then you go back to teach phonics. It really does very well with a lot of children. This book has been sold for half a century. He has taught brain-injured babies to read, using this method. I used it with my firstborn.
I've heard that Sing, Spell, Read, and Write uses both sight word and phonics approaches. It's been a while since I did SSRW, so I don't really remember that part. But I did enjoy using that with my younger two girls.
Good luck, and best wishes for you and your child!
Lorelei
ps: here's the catalog to all the books by Glenn Doman, including kits to use with his reading book, although you can make the flash cards yourself.
http://www.iahp.org/fileadmin/PDFs/GRPcatalog.pdf