<PAGE> PAGE 1
000 A000000 06/30/99
000 C000000 0001073005
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 E*TRADE FUNDS
001 B000000 811-09093
001 C000000 6503316000
002 A000000 4500 BOHANNON DRIVE
002 B000000 MENLO PARK
002 C000000 CA
002 D010000 94025
003 000000 Y
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
007 C010100 1
007 C020100 E*TRADE S&P 500 INDEX FUND
007 C030100 N
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 E*TRADE ASSET MANAGEMENT, INC.
008 B00AA01 A
008 C00AA01 801-56200
008 D01AA01 MENLO PARK
008 D02AA01 CA
008 D03AA01 94025
010 A00AA01 E*TRADE ASSET MANAGEMENT INC
010 B00AA01 801-56200
010 C01AA01 MENLO PARK
010 C02AA01 CA
010 C03AA01 94025
010 A00AA02 INVESTORS BANK & TRUST
010 C01AA02 BOSTON
010 C02AA02 MA
010 C03AA02 02116
011 A00AA01 E*TRADE SECURITIES, INC.
011 B00AA01 8-44112
<PAGE> PAGE 2
011 C01AA01 MENLO PARK
011 C02AA01 CA
011 C03AA01 94025
012 A00AA01 E*TRADE SECURITIES, INC.
012 B00AA01 84-4112
012 C01AA01 MENLO PARK
012 C02AA01 CA
012 C03AA01 94025
013 A00AA01 DELOITTE & TOUCHE LLP
013 B01AA01 LOS ANGELES
013 B02AA01 CA
013 B03AA01 90017
013 B04AA01 2472
015 A00AA01 INVESTORS BANK & TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02116
015 E01AA01 X
018 00AA00 N
019 A00AA00 N
019 B00AA00 0
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
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020 C000010 0
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022 C000004 0
022 D000004 0
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022 D000005 0
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022 D000006 0
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022 D000008 0
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022 D000009 0
<PAGE> PAGE 3
022 C000010 0
022 D000010 0
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025 D00AA07 0
025 D00AA08 0
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026 B000000 N
026 C000000 N
026 D000000 N
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
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030 B00AA00 0.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 Y
038 00AA00 0
039 00AA00 N
040 00AA00 N
041 00AA00 N
045 00AA00 Y
046 00AA00 N
047 00AA00 Y
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<PAGE> PAGE 4
048 E01AA00 0
048 E02AA00 0.000
048 F01AA00 0
048 F02AA00 0.000
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048 J02AA00 0.000
048 K01AA00 0
048 K02AA00 0.000
049 00AA00 N
050 00AA00 N
051 00AA00 N
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053 C00AA00 N
054 A00AA00 N
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 N
054 I00AA00 N
054 J00AA00 N
054 K00AA00 N
054 L00AA00 N
054 M00AA00 N
054 N00AA00 N
054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
056 00AA00 N
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
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062 A00AA00 N
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<PAGE> PAGE 5
062 G00AA00 0.0
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062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
066 A00AA00 Y
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068 A00AA00 N
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070 B02AA00 N
070 C01AA00 N
070 C02AA00 N
070 D01AA00 N
070 D02AA00 N
070 E01AA00 N
070 E02AA00 N
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070 I02AA00 N
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070 K02AA00 Y
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070 P02AA00 N
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<PAGE> PAGE 6
070 Q02AA00 N
070 R01AA00 N
070 R02AA00 N
077 A000000 N
078 000000 N
080 A00AA00 AIG
080 C00AA00 1000000
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081 B00AA00 0
082 A00AA00 Y
082 B00AA00 25000
028 A010100 0
028 A020100 0
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028 B020100 0
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028 C010100 6190
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028 D010100 7896
028 D020100 3
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028 D040100 717
028 E010100 6384
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028 E040100 558
028 F010100 6100
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028 F040100 664
028 G010100 27992
028 G020100 3
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028 G040100 2101
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<PAGE> PAGE 7
071 B000100 0
071 C000100 0
071 D000100 0
072 A000100 4
072 B000100 13
072 C000100 65
072 D000100 0
072 E000100 0
072 F000100 3
072 G000100 13
072 H000100 0
072 I000100 0
072 J000100 0
072 K000100 0
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072 R000100 0
072 S000100 0
072 T000100 0
072 U000100 0
072 V000100 0
072 W000100 0
072 X000100 16
072 Y000100 0
072 Z000100 62
072AA000100 134
072BB000100 0
072CC010100 1033
072CC020100 0
072DD010100 57
072DD020100 0
072EE000100 0
073 A010100 0.0300
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 0
074 B000100 0
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074 D000100 0
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 27126
074 J000100 0
074 K000100 0
<PAGE> PAGE 8
074 L000100 0
074 M000100 0
074 N000100 27126
074 O000100 0
074 P000100 5
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 54
074 S000100 0
074 T000100 27067
074 U010100 2445
074 U020100 0
074 V010100 11.07
074 V020100 0.00
074 W000100 0.0000
074 X000100 6404
074 Y000100 0
075 A000100 0
075 B000100 13939
076 000100 0.00
SIGNATURE JOE VAN REMORTEL
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from E*TRADE S&P 500 Index Fund
financial statements at June 30, 1999
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 011
<NAME> E*TRADE
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 27,125,959
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 27,125,959
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 58,992
<TOTAL-LIABILITIES> 58,992
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 25,894,053
<SHARES-COMMON-STOCK> 2,445,089
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 5,076
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 134,455
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,033,383
<NET-ASSETS> 27,066,967
<DIVIDEND-INCOME> 65,416
<INTEREST-INCOME> 12,923
<OTHER-INCOME> 0
<EXPENSES-NET> (16,116)
<NET-INVESTMENT-INCOME> 62,223
<REALIZED-GAINS-CURRENT> 134,455
<APPREC-INCREASE-CURRENT> 1,033,383
<NET-CHANGE-FROM-OPS> 1,230,061
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 57,146
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 27,992,169
<NUMBER-OF-SHARES-REDEEMED> 2,100,925
<SHARES-REINVESTED> 2,809
<NET-CHANGE-IN-ASSETS> 27,066,967
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,542
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 16,116
<AVERAGE-NET-ASSETS> 13,939,249
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.03
<PER-SHARE-GAIN-APPREC> 1.07
<PER-SHARE-DIVIDEND> (0.03)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.07
<EXPENSE-RATIO> 0.32
</TABLE>
