<PAGE> PAGE 1
000 B000000 12/31/1999
000 C000000 0001088143
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 X.COM FUNDS
001 B000000 811-09381
001 C000000 8884478999
002 A000000 394 UNIVERSITY AVENUE
002 B000000 PALO ALTO
002 C000000 CA
002 D010000 94301
003 000000 Y
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 3
007 C010100 1
007 C020100 X.COM PREMIER S&P 500 FUND
007 C030100 N
007 C010200 2
007 C020200 X.COM U.S.A. BOND FUND
007 C030200 N
007 C010300 3
007 C020300 X.COM U.S.A. MONEY MARKET FUND
007 C030300 N
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 X.COM ASSET MANAGEMENT, INC.
008 B00AA01 A
008 C00AA01 801-22609
008 D01AA01 PALO ALTO
008 D02AA01 CA
008 D03AA01 94301
010 A00AA01 INVESTORS BANK & TRUST COMPANY
010 C01AA01 BOSTON
010 C02AA01 MA
010 C03AA01 02116
012 A00AA01 FIRST WESTERN NATIONAL BANK
012 B00AA01 84-xxxxx
012 C01AA01 LA JARA
<PAGE> PAGE 2
012 C02AA01 CO
012 C03AA01 81140
013 A00AA01 KPMG LLP
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02110
014 A00AA01 BARCLAYS GLOBAL INVESTMENT SERVICES
014 B00AA01 8-00000
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
020 C000009 0
020 C000010 0
021 000000 0
022 C000001 0
022 D000001 0
022 C000002 0
022 D000002 0
022 C000003 0
022 D000003 0
022 C000004 0
022 D000004 0
022 C000005 0
022 D000005 0
022 C000006 0
022 D000006 0
022 C000007 0
022 D000007 0
022 C000008 0
022 D000008 0
022 C000009 0
022 D000009 0
022 C000010 0
022 D000010 0
023 C000000 0
023 D000000 0
024 00AA00 N
<PAGE> PAGE 3
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
026 A000000 N
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
029 00AA00 N
030 A00AA00 0
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 N
038 00AA00 0
039 00AA00 N
040 00AA00 N
041 00AA00 N
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 0
044 00AA00 0
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 Y
053 B00AA00 Y
053 C00AA00 Y
<PAGE> PAGE 4
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
061 00AA00 0
062 A00AA00 N
062 B00AA00 0.0
062 C00AA00 0.0
062 D00AA00 0.0
062 E00AA00 0.0
062 F00AA00 0.0
062 G00AA00 0.0
062 H00AA00 0.0
062 I00AA00 0.0
062 J00AA00 0.0
062 K00AA00 0.0
062 L00AA00 0.0
062 M00AA00 0.0
062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
063 A00AA00 0
063 B00AA00 0.0
070 A01AA00 N
070 A02AA00 N
070 B01AA00 N
070 B02AA00 N
070 C01AA00 N
070 C02AA00 N
070 D01AA00 N
<PAGE> PAGE 5
070 D02AA00 N
070 E01AA00 N
070 E02AA00 N
070 F01AA00 N
070 F02AA00 N
070 G01AA00 N
070 G02AA00 N
070 H01AA00 N
070 H02AA00 N
070 I01AA00 N
070 I02AA00 N
070 J01AA00 N
070 J02AA00 N
070 K01AA00 Y
070 K02AA00 Y
070 L01AA00 N
070 L02AA00 N
070 M01AA00 N
070 M02AA00 N
070 N01AA00 N
070 N02AA00 N
070 O01AA00 N
070 O02AA00 N
070 P01AA00 N
070 P02AA00 N
070 Q01AA00 N
070 Q02AA00 N
070 R01AA00 N
070 R02AA00 N
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 N
077 Q020000 N
077 Q030000 N
078 000000 N
080 A00AA00 NATIONAL UNION FIRE INSURANCE COMPANY
080 C00AA00 1000
<PAGE> PAGE 6
081 A00AA00 N
081 B00AA00 0
082 A00AA00 Y
082 B00AA00 100
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
028 A010100 0
028 A020100 0
028 A030100 0
028 A040100 0
028 B010100 0
028 B020100 0
028 B030100 0
028 B040100 0
028 C010100 0
028 C020100 0
028 C030100 0
028 C040100 0
028 D010100 36
028 D020100 0
028 D030100 0
028 D040100 0
028 E010100 2
028 E020100 0
028 E030100 0
028 E040100 6
028 F010100 269
028 F020100 0
028 F030100 0
028 F040100 73
028 G010100 307
028 G020100 0
028 G030100 0
028 G040100 79
028 H000100 0
<PAGE> PAGE 7
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.230
048 A010100 0
048 A020100 0.000
048 B010100 0
048 B020100 0.000
048 C010100 0
048 C020100 0.000
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 0
048 K020100 0.000
066 A000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 Y
071 A000100 0
071 B000100 0
071 C000100 0
071 D000100 0
072 A000100 2
072 B000100 0
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 0
072 G000100 0
072 H000100 0
072 I000100 0
072 J000100 0
072 K000100 0
072 L000100 0
072 M000100 0
072 N000100 0
072 O000100 0
072 P000100 0
<PAGE> PAGE 8
072 Q000100 0
072 R000100 0
072 S000100 0
072 T000100 0
072 U000100 0
072 V000100 0
072 W000100 0
072 X000100 0
072 Y000100 0
072 Z000100 0
072AA000100 0
072BB000100 0
072CC010100 9
072CC020100 0
072DD010100 0
072DD020100 0
072EE000100 0
073 A010100 0.0000
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 0
074 B000100 0
074 C000100 0
074 D000100 0
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 242
074 J000100 0
074 K000100 0
074 L000100 7
074 M000100 0
074 N000100 249
074 O000100 0
074 P000100 0
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 11
074 S000100 0
074 T000100 238
074 U010100 21
074 U020100 0
074 V010100 11.49
074 V020100 0.00
074 W000100 0.0000
074 X000100 2142
074 Y000100 0
<PAGE> PAGE 9
075 A000100 0
075 B000100 66
076 000100 0.00
028 A010200 0
028 A020200 0
028 A030200 0
028 A040200 0
028 B010200 0
028 B020200 0
028 B030200 0
028 B040200 0
028 C010200 0
028 C020200 0
028 C030200 0
028 C040200 0
028 D010200 36
028 D020200 0
028 D030200 0
028 D040200 0
028 E010200 1
028 E020200 0
028 E030200 0
028 E040200 11
028 F010200 316
028 F020200 1
028 F030200 0
028 F040200 108
028 G010200 353
028 G020200 1
028 G030200 0
028 G040200 119
028 H000200 0
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.320
048 A010200 0
048 A020200 0.000
048 B010200 0
048 B020200 0.000
048 C010200 0
048 C020200 0.000
048 D010200 0
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
<PAGE> PAGE 10
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 0
048 K020200 0.000
066 A000200 N
067 000200 N
068 A000200 N
068 B000200 N
069 000200 Y
071 A000200 0
071 B000200 0
071 C000200 0
071 D000200 0
072 A000200 2
072 B000200 2
072 C000200 0
072 D000200 0
072 E000200 0
072 F000200 0
072 G000200 0
072 H000200 0
072 I000200 0
072 J000200 0
072 K000200 0
072 L000200 0
072 M000200 0
072 N000200 0
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 0
072 S000200 0
072 T000200 0
072 U000200 0
072 V000200 0
072 W000200 0
072 X000200 1
072 Y000200 0
072 Z000200 1
072AA000200 0
072BB000200 0
072CC010200 0
072CC020200 1
072DD010200 1
072DD020200 0
072EE000200 0
073 A010200 0.0606
073 A020200 0.0000
<PAGE> PAGE 11
073 B000200 0.0000
073 C000200 0.0000
074 A000200 0
074 B000200 0
074 C000200 0
074 D000200 0
074 E000200 0
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 233
074 J000200 0
074 K000200 0
074 L000200 1
074 M000200 0
074 N000200 234
074 O000200 0
074 P000200 0
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 0
074 S000200 0
074 T000200 234
074 U010200 24
074 U020200 0
074 V010200 9.77
074 V020200 0.00
074 W000200 0.0000
074 X000200 220
074 Y000200 0
075 A000200 0
075 B000200 92
076 000200 0.00
028 A010300 0
028 A020300 0
028 A030300 0
028 A040300 0
028 B010300 0
028 B020300 0
028 B030300 0
028 B040300 0
028 C010300 0
028 C020300 0
028 C030300 0
028 C040300 0
028 D010300 31
028 D020300 0
028 D030300 0
028 D040300 0
<PAGE> PAGE 12
028 E010300 1
028 E020300 0
028 E030300 0
028 E040300 2
028 F010300 1222
028 F020300 3
028 F030300 0
028 F040300 58
028 G010300 1254
028 G020300 3
028 G030300 0
028 G040300 60
028 H000300 0
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.500
048 A010300 0
048 A020300 0.000
048 B010300 0
048 B020300 0.000
048 C010300 0
048 C020300 0.000
048 D010300 0
048 D020300 0.000
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
048 G020300 0.000
048 H010300 0
048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 0
048 K020300 0.000
066 A000300 N
067 000300 N
068 A000300 N
068 B000300 N
069 000300 N
071 A000300 0
071 B000300 0
071 C000300 0
071 D000300 0
072 A000300 2
072 B000300 3
072 C000300 0
<PAGE> PAGE 13
072 D000300 0
072 E000300 0
072 F000300 0
072 G000300 0
072 H000300 0
072 I000300 0
072 J000300 0
072 K000300 0
072 L000300 0
072 M000300 0
072 N000300 0
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 0
072 S000300 0
072 T000300 0
072 U000300 0
072 V000300 0
072 W000300 0
072 X000300 1
072 Y000300 0
072 Z000300 2
072AA000300 0
072BB000300 0
072CC010300 0
072CC020300 0
072DD010300 2
072DD020300 0
072EE000300 0
073 A010300 0.0065
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 0
074 B000300 0
074 C000300 0
074 D000300 0
074 E000300 0
074 F000300 0
074 G000300 0
074 H000300 0
074 I000300 1196
074 J000300 0
074 K000300 0
074 L000300 2
074 M000300 0
074 N000300 1198
074 O000300 0
074 P000300 0
074 Q000300 0
<PAGE> PAGE 14
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 2
074 S000300 0
074 T000300 1196
074 U010300 1196
074 U020300 0
074 V010300 1.00
074 V020300 0.00
074 W000300 0.0000
074 X000300 555
074 Y000300 0
075 A000300 309
075 B000300 0
076 000300 0.00
SIGNATURE JOHN STORY
TITLE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from X.com
financial statements at December 31, 1999
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> X.COM PREMIER S&P 500 FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 242,031
<RECEIVABLES> 7,110
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 249,141
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 11,089
<TOTAL-LIABILITIES> 11,089
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 228,810
<SHARES-COMMON-STOCK> 20,713
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 110
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 60
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 9,072
<NET-ASSETS> 238,052
<DIVIDEND-INCOME> 83
<INTEREST-INCOME> 26
<OTHER-INCOME> 1
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 110
<REALIZED-GAINS-CURRENT> 60
<APPREC-INCREASE-CURRENT> 9,072
<NET-CHANGE-FROM-OPS> 9,242
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 27,699
<NUMBER-OF-SHARES-REDEEMED> (6,986)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 238,052
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 22
<AVERAGE-NET-ASSETS> 65,687
<PER-SHARE-NAV-BEGIN> 11.01
<PER-SHARE-NII> 0.01
<PER-SHARE-GAIN-APPREC> 0.47
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.49
<EXPENSE-RATIO> (0.01)
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from X.com
financial statements at December 31, 1999
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 2
<NAME> X.COM USA BOND FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 233,225
<RECEIVABLES> 490
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 233,715
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 17
<TOTAL-LIABILITIES> 17
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 234,698
<SHARES-COMMON-STOCK> 23,922
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (336)
<ACCUMULATED-NET-GAINS> 2
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (955)
<NET-ASSETS> 234,081
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,081
<OTHER-INCOME> 0
<EXPENSES-NET> (20)
<NET-INVESTMENT-INCOME> 1,061
<REALIZED-GAINS-CURRENT> (15)
<APPREC-INCREASE-CURRENT> (955)
<NET-CHANGE-FROM-OPS> 91
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,091)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 35,896
<NUMBER-OF-SHARES-REDEEMED> (12,085)
<SHARES-REINVESTED> 111
<NET-CHANGE-IN-ASSETS> 233,698
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 9
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 44
<AVERAGE-NET-ASSETS> 91,649
<PER-SHARE-NAV-BEGIN> 10.06
<PER-SHARE-NII> 0.18
<PER-SHARE-GAIN-APPREC> (0.29)
<PER-SHARE-DIVIDEND> (0.18)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.77
<EXPENSE-RATIO> 0.19
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from X.com
financial statements at December 31, 1999
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME> X.COM MONEY MARKET FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 1,195,942
<RECEIVABLES> 2,032
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,197,974
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,804
<TOTAL-LIABILITIES> 1,804
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,196,170
<SHARES-COMMON-STOCK> 1,196,170
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 1,196,170
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,507
<OTHER-INCOME> 0
<EXPENSES-NET> (197)
<NET-INVESTMENT-INCOME> 2,704
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 2,704
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,310)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,253,835
<NUMBER-OF-SHARES-REDEEMED> (60,192)
<SHARES-REINVESTED> 2,527
<NET-CHANGE-IN-ASSETS> 1,196,170
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 42
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 197
<AVERAGE-NET-ASSETS> 309,331
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.01
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> (0.01)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.50
</TABLE>
Page 1
Independent Auditors' Report on Internal Accounting Controls
To the Shareholders and Board of Trustees
X.com Funds:
In planning and performing our audits of the financial statements of the X.com
Funds (comprising, respectively, X.com Premier S&P 500 Fund, X.com U.S.A. Bond
Fund, and X.com U.S.A. Money Market Fund) for the period ended December 31,
1999, we considered its internal control, including procedures for safeguarding
securities, in order to determine our auditing procedures for the purpose of
expressing our opinion on the financial statements and to comply with the
requirements of Form N-SAR, not to provide assurance on internal control.
The management of X.com Funds is responsible for establishing and maintaining
internal control. In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements for external purposes that
are fairly presented in conformity with generally accepted accounting
principles. Those controls include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, errors or irregularities
may occur and not be detected. Also, projection of any evaluation of internal
control to future periods is subject to the risks that it may become inadequate
because of changes in conditions or that the effectiveness of the design and
operation may deteriorate.
Our consideration of internal control would not necessarily disclose all matters
in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of one or more
of the internal control components does not reduce to a relatively low level the
risk that errors or irregularities in amounts that would be material in relation
to the financial statements being audited may occur and not be detected within a
timely period by employees in the normal course of performing their assigned
functions. However, we noted no matters involving internal control and its
operation, including controls over safeguarding securities, that we consider to
be material weaknesses as defined above as of December 31, 1999.
This report is intended solely for the information and use of management and the
Board of Trustees of X.com Funds and the Securities and Exchange Commission and
is not intended to be and should not be used by anyone other than these
specified parties.
San Francisco, California
February 11, 2000
