[ARTICLE] 6
[CIK] 0000701387
[NAME] HIGH YIELD BOND TRUST
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   6-MOS
[FISCAL-YEAR-END]                          DEC-31-1998
[PERIOD-END]                               JUN-30-1998
[INVESTMENTS-AT-COST]                       27,355,095
[INVESTMENTS-AT-VALUE]                      27,909,161
[RECEIVABLES]                                1,062,382
[ASSETS-OTHER]                              27,909,161
[OTHER-ITEMS-ASSETS]                            17,902
[TOTAL-ASSETS]                              28,989,445
[PAYABLE-FOR-SECURITIES]                             0
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                       30,977
[TOTAL-LIABILITIES]                             30,977
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                    29,941,082
[SHARES-COMMON-STOCK]                        2,978,845
[SHARES-COMMON-PRIOR]                        2,036,482
[ACCUMULATED-NII-CURRENT]                    1,194,348
[OVERDISTRIBUTION-NII]                               0
[ACCUMULATED-NET-GAINS]                              0
[OVERDISTRIBUTION-GAINS]                   (2,731,029)
[ACCUM-APPREC-OR-DEPREC]                       554,066
[NET-ASSETS]                                28,958,468
[DIVIDEND-INCOME]                               20,982
[INTEREST-INCOME]                            1,282,523
[OTHER-INCOME]                                       0
[EXPENSES-NET]                                 109,032
[NET-INVESTMENT-INCOME]                      1,194,473
[REALIZED-GAINS-CURRENT]                       765,691
[APPREC-INCREASE-CURRENT]                    (589,507)
[NET-CHANGE-FROM-OPS]                        1,370,657
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                    1,906,452
[DISTRIBUTIONS-OF-GAINS]                             0
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                        426,825
[NUMBER-OF-SHARES-REDEEMED]                    199,219
[SHARES-REINVESTED]                            196,339
[NET-CHANGE-IN-ASSETS]                       1,370,657
[ACCUMULATED-NII-PRIOR]                              0
[ACCUMULATED-GAINS-PRIOR]                      813,430
[OVERDISTRIB-NII-PRIOR]                      1,194,349
[OVERDIST-NET-GAINS-PRIOR]                           0
[GROSS-ADVISORY-FEES]                           69,695
[INTEREST-EXPENSE]                              39,337
[GROSS-EXPENSE]                                109,032
[AVERAGE-NET-ASSETS]                        28,129,722
[PER-SHARE-NAV-BEGIN]                             9.89
[PER-SHARE-NII]                                   0.33
[PER-SHARE-GAIN-APPREC]                           0.18
[PER-SHARE-DIVIDEND]                              0.68
[PER-SHARE-DISTRIBUTIONS]                            0
[RETURNS-OF-CAPITAL]                                 0
[PER-SHARE-NAV-END]                               9.72
[EXPENSE-RATIO]                                   0.78
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
</TABLE>