WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
FIXED INCOME SHARES SERIES C SEMI-ANNUAL REPORT FOR THE PERIOD ENDED APRIL
30, 2000.
</LEGEND>
<CIK> 0001098605
<NAME> FIXED INCOME SHARES
<SERIES>
<NUMBER> 1
<NAME> SERIES C
<S> <C>
<PERIOD-TYPE> 2-MOS
<FISCAL-YEAR-END> OCT-31-2000
<PERIOD-START> MAR-17-2000
<PERIOD-END> APR-30-2000
<INVESTMENTS-AT-COST> 5,043,120
<INVESTMENTS-AT-VALUE> 4,995,215
<RECEIVABLES> 94,710
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 5,089,925
<PAYABLE-FOR-SECURITIES> 95,281
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 38,419
<TOTAL-LIABILITIES> 133,700
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 5,006,396
<SHARES-COMMON-STOCK> 500,640
<SHARES-COMMON-PRIOR> 5,000
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2,717
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (52,888)
<NET-ASSETS> 4,956,225
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 37,678
<OTHER-INCOME> 0
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 37,678
<REALIZED-GAINS-CURRENT> 2,717
<APPREC-INCREASE-CURRENT> (52,888)
<NET-CHANGE-FROM-OPS> (12,493)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 37,678
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,956,396
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 4,906,225
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 4,681,075
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.08
<PER-SHARE-GAIN-APPREC> (0.10)
<PER-SHARE-DIVIDEND> (0.08)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.90
<EXPENSE-RATIO> 0
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
