[ARTICLE] 6
[CIK] 0000701387
[NAME] HIGH YIELD BOND TRUST
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   YEAR
[FISCAL-YEAR-END]                          DEC-31-1996
[PERIOD-END]                               DEC-31-1996
[INVESTMENTS-AT-COST]                       16,243,720
[INVESTMENTS-AT-VALUE]                      16,901,822
[RECEIVABLES]                                  412,782
[ASSETS-OTHER]                              16,901,822
[OTHER-ITEMS-ASSETS]                                 0
[TOTAL-ASSETS]                              17,314,604
[PAYABLE-FOR-SECURITIES]                             0
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                       23,561
[TOTAL-LIABILITIES]                             23,561
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                    21,746,024
[SHARES-COMMON-STOCK]                        2,036,482
[SHARES-COMMON-PRIOR]                        1,432,658
[ACCUMULATED-NII-CURRENT]                    1,631,694
[OVERDISTRIBUTION-NII]                       (304,388)
[ACCUMULATED-NET-GAINS]                              0
[OVERDISTRIBUTION-GAINS]                             0
[ACCUM-APPREC-OR-DEPREC]                       658,102
[NET-ASSETS]                                17,291,043
[DIVIDEND-INCOME]                                    0
[INTEREST-INCOME]                            1,774,958
[OTHER-INCOME]                                       0
[EXPENSES-NET]                                 143,264
[NET-INVESTMENT-INCOME]                      1,631,694
[REALIZED-GAINS-CURRENT]                             0
[APPREC-INCREASE-CURRENT]                      658,102
[NET-CHANGE-FROM-OPS]                        2,185,134
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                    2,978,125
[DISTRIBUTIONS-OF-GAINS]                             0
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                        591,013
[NUMBER-OF-SHARES-REDEEMED]                    343,196
[SHARES-REINVESTED]                            356,007
[NET-CHANGE-IN-ASSETS]                       2,185,134
[ACCUMULATED-NII-PRIOR]                              0
[ACCUMULATED-GAINS-PRIOR]                  (6,529,050)
[OVERDISTRIB-NII-PRIOR]                              0
[OVERDIST-NET-GAINS-PRIOR]                           0
[GROSS-ADVISORY-FEES]                           72,800
[INTEREST-EXPENSE]                                   0
[GROSS-EXPENSE]                                143,264
[AVERAGE-NET-ASSETS]                        15,096,670
[PER-SHARE-NAV-BEGIN]                             9.00
[PER-SHARE-NII]                                   0.91
[PER-SHARE-GAIN-APPREC]                           0.41
[PER-SHARE-DIVIDEND]                                 0
[PER-SHARE-DISTRIBUTIONS]                         1.83
[RETURNS-OF-CAPITAL]                                 0
[PER-SHARE-NAV-END]                               8.49
[EXPENSE-RATIO]                                   0.97
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
</TABLE>