<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from E*TRADE Bond Index Fund
financial statements at June 30, 2000
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 2
<NAME> E*TRADE BOND INDEX FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-2000
<PERIOD-END> JUN-30-2000
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 2,944,536
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,944,536
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 49,364
<TOTAL-LIABILITIES> 49,364
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,928,704
<SHARES-COMMON-STOCK> 290,247
<SHARES-COMMON-PRIOR> 234,796
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (4,202)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (39,364)
<ACCUM-APPREC-OR-DEPREC> 10,034
<NET-ASSETS> 2,895,172
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 92,800
<OTHER-INCOME> 0
<EXPENSES-NET> (4,722)
<NET-INVESTMENT-INCOME> 88,078
<REALIZED-GAINS-CURRENT> (38,435)
<APPREC-INCREASE-CURRENT> 51,088
<NET-CHANGE-FROM-OPS> 100,731
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (92,280)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 219,664
<NUMBER-OF-SHARES-REDEEMED> (170,293)
<SHARES-REINVESTED> 6,080
<NET-CHANGE-IN-ASSETS> 568,488
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (929)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,353
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,855
<AVERAGE-NET-ASSETS> 2,717,223
<PER-SHARE-NAV-BEGIN> 9.91
<PER-SHARE-NII> 0.32
<PER-SHARE-GAIN-APPREC> 0.05
<PER-SHARE-DIVIDEND> (0.33)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.02
<PER-SHARE-NAV-END> 9.97
<EXPENSE-RATIO> 0.35
</TABLE>
