<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Kemper
High Yield Fund Annual Report for the fiscal year ended 9/30/2000 and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000225528
<NAME> KEMPER HIGH YIELD SERIES
<SERIES>
<NUMBER> 010
<NAME> KEMPER HIGH YIELD FUND-CLASS A
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-START> OCT-01-1999
<PERIOD-END> SEP-30-2000
<INVESTMENTS-AT-COST> 3,873,775,101
<INVESTMENTS-AT-VALUE> 3,127,217,713
<RECEIVABLES> 115,905,252
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 5,045,888
<TOTAL-ASSETS> 3,248,168,853
<PAYABLE-FOR-SECURITIES> 26,403,505
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 16,368,211
<TOTAL-LIABILITIES> 42,771,716
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4,340,608,756
<SHARES-COMMON-STOCK> 358,910,410
<SHARES-COMMON-PRIOR> 407,620,662
<ACCUMULATED-NII-CURRENT> 4,395,050
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (393,049,281)
<ACCUM-APPREC-OR-DEPREC> (746,557,388)
<NET-ASSETS> 3,205,397,137
<DIVIDEND-INCOME> 9,445,958
<INTEREST-INCOME> 460,070,503
<OTHER-INCOME> 0
<EXPENSES-NET> 45,787,187
<NET-INVESTMENT-INCOME> 423,729,274
<REALIZED-GAINS-CURRENT> (202,813,381)
<APPREC-INCREASE-CURRENT> (274,290,388)
<NET-CHANGE-FROM-OPS> (53,374,495)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (306,495,286)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,129,906,529
<NUMBER-OF-SHARES-REDEEMED> (1,712,408,411)
<SHARES-REINVESTED> 173,334,908
<NET-CHANGE-IN-ASSETS> (1,075,998,009)
<ACCUMULATED-NII-PRIOR> 7,390,468
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (193,917,000)
<GROSS-ADVISORY-FEES> 20,715,587
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 46,111,788
<AVERAGE-NET-ASSETS> 2,743,574,964
<PER-SHARE-NAV-BEGIN> 7.23
<PER-SHARE-NII> .77
<PER-SHARE-GAIN-APPREC> (.89)
<PER-SHARE-DIVIDEND> (.77)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 6.34
<EXPENSE-RATIO> .92
</TABLE>
