WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<NAME> USLIFE INCOME FUND
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-END> JUN-30-2000
<INVESTMENTS-AT-COST> 56,321,079
<INVESTMENTS-AT-VALUE> 50,019,758
<RECEIVABLES> 1,376,976
<ASSETS-OTHER> 393,816
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 51,790,550
<PAYABLE-FOR-SECURITIES> 866,422
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 333,203
<TOTAL-LIABILITIES> 1,199,625
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 59,107,071
<SHARES-COMMON-STOCK> 5,643,768
<SHARES-COMMON-PRIOR> 5,643,768
<ACCUMULATED-NII-CURRENT> 542,321
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2,757,146)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (6,301,321)
<NET-ASSETS> 50,590,925
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5,099,471
<OTHER-INCOME> 0
<EXPENSES-NET> 1,334,667
<NET-INVESTMENT-INCOME> 3,764,804
<REALIZED-GAINS-CURRENT> (1,071,369)
<APPREC-INCREASE-CURRENT> (4,654,716)
<NET-CHANGE-FROM-OPS> (1,961,281)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,289,263)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 0
<ACCUMULATED-NII-PRIOR> 1,091,780
<ACCUMULATED-GAINS-PRIOR> (1,710,777)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 357,889
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,334,667
<AVERAGE-NET-ASSETS> 53,143,733
<PER-SHARE-NAV-BEGIN> 10.07
<PER-SHARE-NII> 0.67
<PER-SHARE-GAIN-APPREC> (1.02)
<PER-SHARE-DIVIDEND> 0.76
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 8.96
<EXPENSE-RATIO> 2.51
</TABLE>
