<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001045487
<NAME> THE JAMES ADVANTAGE FUNDS
<SERIES>
<NUMBER> 3
<NAME> THE JAMES MARKET NEUTRAL FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-END> JUN-30-2000
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<SHARES-COMMON-PRIOR> 890,250
<ACCUMULATED-NII-CURRENT> 4,326
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<REALIZED-GAINS-CURRENT> (612,921)
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<EQUALIZATION> 0
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<NET-CHANGE-IN-ASSETS> (1,599,563)
<ACCUMULATED-NII-PRIOR> 3,018
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<PER-SHARE-DIVIDEND> .23
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<EXPENSE-RATIO> 1.95
</TABLE>
