<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000027574
<NAME> DELAWARE GROUP EQUITY FUNDS II
<SERIES>
<NUMBER> 054
<NAME> DELAWARE DIVERSIFIED VALUE FUND INSTITUTIONAL CLASS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1999
<PERIOD-END> MAY-31-2000
<INVESTMENTS-AT-COST> 14,928,667
<INVESTMENTS-AT-VALUE> 15,265,517
<RECEIVABLES> 87,518
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 2,409
<TOTAL-ASSETS> 15,355,444
<PAYABLE-FOR-SECURITIES> 45,036
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 14,198
<TOTAL-LIABILITIES> 59,234
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 14,875,956
<SHARES-COMMON-STOCK> 1,512,875
<SHARES-COMMON-PRIOR> 481,184
<ACCUMULATED-NII-CURRENT> 61,266
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 22,138
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 336,850
<NET-ASSETS> 15,273,521
<DIVIDEND-INCOME> 87,894
<INTEREST-INCOME> 7,863
<OTHER-INCOME> 0
<EXPENSES-NET> 30,059
<NET-INVESTMENT-INCOME> 65,698
<REALIZED-GAINS-CURRENT> 24,856
<APPREC-INCREASE-CURRENT> 263,045
<NET-CHANGE-FROM-OPS> 353,599
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 33,683
<DISTRIBUTIONS-OF-GAINS> 330,574
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,494,331
<NUMBER-OF-SHARES-REDEEMED> 500,000
<SHARES-REINVESTED> 37,360
<NET-CHANGE-IN-ASSETS> 10,153,310
<ACCUMULATED-NII-PRIOR> 29,251
<ACCUMULATED-GAINS-PRIOR> 327,856
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 27,267
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 34,174
<AVERAGE-NET-ASSETS> 8,438,560
<PER-SHARE-NAV-BEGIN> 10.690
<PER-SHARE-NII> 0.077
<PER-SHARE-GAIN-APPREC> 0.090
<PER-SHARE-DIVIDEND> 0.070
<PER-SHARE-DISTRIBUTIONS> 0.687
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.100
<EXPENSE-RATIO> 0.750
</TABLE>
