[ARTICLE] 6
[CIK] 0000701387
[NAME] HIGH YIELD BOND TRUST
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   YEAR
[FISCAL-YEAR-END]                          DEC-31-1998
[PERIOD-END]                               DEC-31-1998
[INVESTMENTS-AT-COST]                       27,286,667
[INVESTMENTS-AT-VALUE]                      27,334,753
[RECEIVABLES]                                  820,129
[ASSETS-OTHER]                                       0
[OTHER-ITEMS-ASSETS]                                 0
[TOTAL-ASSETS]                              28,154,882
[PAYABLE-FOR-SECURITIES]                             0
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                       66,441
[TOTAL-LIABILITIES]                             66,441
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                    27,358,407
[SHARES-COMMON-STOCK]                        2,850,740
[SHARES-COMMON-PRIOR]                        2,554,899
[ACCUMULATED-NII-CURRENT]                    2,318,362
[OVERDISTRIBUTION-NII]                               0
[ACCUMULATED-NET-GAINS]                     (1,636,414)
[OVERDISTRIBUTION-GAINS]                             0
[ACCUM-APPREC-OR-DEPREC]                        48,086
[NET-ASSETS]                                28,088,441
[DIVIDEND-INCOME]                               46,514
[INTEREST-INCOME]                            2,568,670
[OTHER-INCOME]                                       0
[EXPENSES-NET]                                 232,817
[NET-INVESTMENT-INCOME]                      2,382,367
[REALIZED-GAINS-CURRENT]                       443,848
[APPREC-INCREASE-CURRENT]                   (1,095,487)
[NET-CHANGE-FROM-OPS]                        1,730,728
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                    1,906,452
[DISTRIBUTIONS-OF-GAINS]                             0
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                        772,815
[NUMBER-OF-SHARES-REDEEMED]                    673,313
[SHARES-REINVESTED]                            196,339
[NET-CHANGE-IN-ASSETS]                       2,816,263
[ACCUMULATED-NII-PRIOR]                      1,906,327
[ACCUMULATED-GAINS-PRIOR]                    3,496,720
[OVERDISTRIB-NII-PRIOR]                              0
[OVERDIST-NET-GAINS-PRIOR]                           0
[GROSS-ADVISORY-FEES]                          141,393
[INTEREST-EXPENSE]                                   0
[GROSS-EXPENSE]                                232,817
[AVERAGE-NET-ASSETS]                        28,285,658
[PER-SHARE-NAV-BEGIN]                             9.89
[PER-SHARE-NII]                                   0.77
[PER-SHARE-GAIN-APPREC]                          (0.13)
[PER-SHARE-DIVIDEND]                                 0
[PER-SHARE-DISTRIBUTIONS]                        (0.68)
[RETURNS-OF-CAPITAL]                                 0
[PER-SHARE-NAV-END]                               9.85
[EXPENSE-RATIO]                                   0.82
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
</TABLE>