<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
FIXED INCOME SHARES M ANNUAL REPORT FOR THE YEAR ENDED OCTOBER 31, 2000.
</LEGEND>
<CIK> 0001098605
<NAME> FIXED INCOME SHARES
<SERIES>
<NUMBER> 2
<NAME> SERIES M
<S> <C>
<PERIOD-TYPE> 8-MOS
<FISCAL-YEAR-END> OCT-31-2000
<PERIOD-START> MAR-17-2000
<PERIOD-END> OCT-31-2000
<INVESTMENTS-AT-COST> 19,989,964
<INVESTMENTS-AT-VALUE> 20,098,182
<RECEIVABLES> 40,705,719
<ASSETS-OTHER> 114,936
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 60,918,837
<PAYABLE-FOR-SECURITIES> 50,321,931
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 50,321,931
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 10,307,396
<SHARES-COMMON-STOCK> 1,013,709
<SHARES-COMMON-PRIOR> 5,000
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 473
<ACCUMULATED-NET-GAINS> 180,819
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 108,218
<NET-ASSETS> 10,596,906
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 264,170
<OTHER-INCOME> 0
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 264,170
<REALIZED-GAINS-CURRENT> 180,819
<APPREC-INCREASE-CURRENT> 108,218
<NET-CHANGE-FROM-OPS> 553,207
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (263,697)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,008,709
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 10,546,906
<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> 6,010,931
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.45
<PER-SHARE-GAIN-APPREC> 0.45
<PER-SHARE-DIVIDEND> (0.45)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.45
<EXPENSE-RATIO> 0
</TABLE>
