<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Kemper
High Yield Opportunity Fund Annual Report for the fiscal year ended 9/30/00 and
is qualified in its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000225528
<NAME> KEMPER HIGH YIELD SERIES
<SERIES>
<NUMBER> 023
<NAME> KEMPER HIGH YIELD OPPORTUNITY FUND-CLASS C
<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> 27,503,933
<INVESTMENTS-AT-VALUE> 21,877,646
<RECEIVABLES> 985,266
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 22,862,912
<PAYABLE-FOR-SECURITIES> 200,493
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 275,717
<TOTAL-LIABILITIES> 476210
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 32,446,491
<SHARES-COMMON-STOCK> 282,086
<SHARES-COMMON-PRIOR> 368,035
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (4,433,502)
<ACCUM-APPREC-OR-DEPREC> (5,626,287)
<NET-ASSETS> 22,386,702
<DIVIDEND-INCOME> 211,077
<INTEREST-INCOME> 3,531,578
<OTHER-INCOME> 0
<EXPENSES-NET> 709,980
<NET-INVESTMENT-INCOME> 3,032,675
<REALIZED-GAINS-CURRENT> (2,586,478)
<APPREC-INCREASE-CURRENT> (2,160,377)
<NET-CHANGE-FROM-OPS> (1,714,180)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (314,796)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,195,973
<NUMBER-OF-SHARES-REDEEMED> (3,340,340)
<SHARES-REINVESTED> 227,698
<NET-CHANGE-IN-ASSETS> 10,026,086
<ACCUMULATED-NII-PRIOR> 145,000
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (1,847,000)
<GROSS-ADVISORY-FEES> 195625
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 712600
<AVERAGE-NET-ASSETS> 3,134,791
<PER-SHARE-NAV-BEGIN> 8.34
<PER-SHARE-NII> .78
<PER-SHARE-GAIN-APPREC> (1.38)
<PER-SHARE-DIVIDEND> (.80)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 6.94
<EXPENSE-RATIO> 2.60
</TABLE>
