FEDERATED GNMA TRUST
NSAR-A, EX-27, 2000-09-22
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE>                         6
<CIK>                             0000357110
<NAME>                            Federated GNMA Trust
<SERIES>
     <NUMBER>                     001
     <NAME>                       Federated GNMA Trust - Institutional Shares

<S>                               <C>
<PERIOD-TYPE>                     6-MOS
<FISCAL-YEAR-END>                 Jan-31-2001
<PERIOD-END>                      Jul-31-2000
<INVESTMENTS-AT-COST>             847,287,016
<INVESTMENTS-AT-VALUE>            825,543,918
<RECEIVABLES>                     4,970,343
<ASSETS-OTHER>                    0
<OTHER-ITEMS-ASSETS>              2,149
<TOTAL-ASSETS>                    830,516,410
<PAYABLE-FOR-SECURITIES>          0
<SENIOR-LONG-TERM-DEBT>           0
<OTHER-ITEMS-LIABILITIES>         4,768,271
<TOTAL-LIABILITIES>               4,768,271
<SENIOR-EQUITY>                   0
<PAID-IN-CAPITAL-COMMON>          954,695,775
<SHARES-COMMON-STOCK>             71,262,060
<SHARES-COMMON-PRIOR>             78,289,946
<ACCUMULATED-NII-CURRENT>         233,062
<OVERDISTRIBUTION-NII>            0
<ACCUMULATED-NET-GAINS>           (107,437,600)
<OVERDISTRIBUTION-GAINS>          0
<ACCUM-APPREC-OR-DEPREC>          (21,743,098)
<NET-ASSETS>                      771,585,451
<DIVIDEND-INCOME>                 0
<INTEREST-INCOME>                 31,730,361
<OTHER-INCOME>                    0
<EXPENSES-NET>                    (2,773,608)
<NET-INVESTMENT-INCOME>           28,956,753
<REALIZED-GAINS-CURRENT>          (1,985,659)
<APPREC-INCREASE-CURRENT>         19,593,682
<NET-CHANGE-FROM-OPS>             46,564,776
<EQUALIZATION>                    0
<DISTRIBUTIONS-OF-INCOME>         (26,984,617)
<DISTRIBUTIONS-OF-GAINS>          0
<DISTRIBUTIONS-OTHER>             0
<NUMBER-OF-SHARES-SOLD>           5,638,079
<NUMBER-OF-SHARES-REDEEMED>       (13,324,895)
<SHARES-REINVESTED>               658,930
<NET-CHANGE-IN-ASSETS>            (81,165,642)
<ACCUMULATED-NII-PRIOR>           84,032
<ACCUMULATED-GAINS-PRIOR>         (105,451,941)
<OVERDISTRIB-NII-PRIOR>           0
<OVERDIST-NET-GAINS-PRIOR>        0
<GROSS-ADVISORY-FEES>             1,712,213
<INTEREST-EXPENSE>                0
<GROSS-EXPENSE>                   3,483,431
<AVERAGE-NET-ASSETS>              805,089,137
<PER-SHARE-NAV-BEGIN>             10.610
<PER-SHARE-NII>                   0.360
<PER-SHARE-GAIN-APPREC>           0.220
<PER-SHARE-DIVIDEND>              (0.360)
<PER-SHARE-DISTRIBUTIONS>         0.000
<RETURNS-OF-CAPITAL>              0.000
<PER-SHARE-NAV-END>               10.830
<EXPENSE-RATIO>                   0.64
[AVG-DEBT-OUTSTANDING]            0
[AVG-DEBT-PER-SHARE]              0.000



</TABLE>


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