[ARTICLE] 6
[CIK] 0000701387
[NAME] HIGH YIELD BOND TRUST
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   YEAR
[FISCAL-YEAR-END]                          DEC-31-1997
[PERIOD-END]                               DEC-31-1997
[INVESTMENTS-AT-COST]                       23,686,231
[INVESTMENTS-AT-VALUE]                      24,829,804
[RECEIVABLES]                                  471,322
[ASSETS-OTHER]                                       0
[OTHER-ITEMS-ASSETS]                               706
[TOTAL-ASSETS]                              25,301,832
[PAYABLE-FOR-SECURITIES]                             0
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                       29,654
[TOTAL-LIABILITIES]                             29,654
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                    25,718,998
[SHARES-COMMON-STOCK]                        2,554,899
[SHARES-COMMON-PRIOR]                        2,036,482
[ACCUMULATED-NII-CURRENT]                    1,906,327
[OVERDISTRIBUTION-NII]                               0
[ACCUMULATED-NET-GAINS]                    (3,496,720)
[OVERDISTRIBUTION-GAINS]                             0
[ACCUM-APPREC-OR-DEPREC]                     1,143,573
[NET-ASSETS]                                25,272,178
[DIVIDEND-INCOME]                               12,591
[INTEREST-INCOME]                            2,071,449
[OTHER-INCOME]                                       0
[EXPENSES-NET]                                 177,713
[NET-INVESTMENT-INCOME]                      1,906,327
[REALIZED-GAINS-CURRENT]                       813,430
[APPREC-INCREASE-CURRENT]                      485,471
[NET-CHANGE-FROM-OPS]                        3,205,228
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                       15,738
[DISTRIBUTIONS-OF-GAINS]                             0
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                        811,252
[NUMBER-OF-SHARES-REDEEMED]                    294,426
[SHARES-REINVESTED]                              1,591
[NET-CHANGE-IN-ASSETS]                       7,981,135
[ACCUMULATED-NII-PRIOR]                              0
[ACCUMULATED-GAINS-PRIOR]                   (4,940,128)
[OVERDISTRIB-NII-PRIOR]                        172,955
[OVERDIST-NET-GAINS-PRIOR]                           0
[GROSS-ADVISORY-FEES]                          105,287
[INTEREST-EXPENSE]                                   0
[GROSS-EXPENSE]                                177,713
[AVERAGE-NET-ASSETS]                        21,083,865
[PER-SHARE-NAV-BEGIN]                             8.49
[PER-SHARE-NII]                                   0.76
[PER-SHARE-GAIN-APPREC]                           0.65
[PER-SHARE-DIVIDEND]                              0.01
[PER-SHARE-DISTRIBUTIONS]                            0
[RETURNS-OF-CAPITAL]                                 0
[PER-SHARE-NAV-END]                               9.89
[EXPENSE-RATIO]                                   0.84
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
</TABLE>