IDS INVESTMENT SERIES INC
NSAR-A, 1998-05-28
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<PAGE>      PAGE  1
000 A000000 03/31/98
000 C000000 0000052347
000 D000000 N
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000 F000000 Y
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001 A000000 IDS INVESTMENT SERIES, INC.
001 B000000 811-54
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002 A000000 IDS TOWER 10
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007 C020200 IDS DIVERSIFIED EQUITY INCOME FUND
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007 C020300 IDS MUTUAL CLASS A
007 C030300 N
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007 C020400 IDS MUTUAL CLASS B
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007 C020500 IDS MUTUAL CLASS Y
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007 C020700 IDS DIVERSIFIED EQUITY INCOME FUND CLASS B
007 C030700 N
007 C010800  8
007 C020800 IDS DIVERSIFIED EQUITY INCOME FUND CLASS Y
007 C030800 N
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011 A00AA01 AMERICAN EXPRESS FINANCIAL ADVISORS INC.
011 B00AA01 8-16791
<PAGE>      PAGE  2
011 C01AA01 MINNEAPOLIS
011 C02AA01 MN
011 C03AA01 55440
011 C04AA01 0010
012 A00AA01 AMERICAN EXPRESS FINANCIAL CORPORATION
012 B00AA01 84-456
012 C01AA01 MINNEAPOLIS
012 C02AA01 MN
012 C03AA01 55440
012 C04AA01 0010
013 A00AA01 KPMG PEAT MARWICK LLP
013 B01AA01 MINNEAPOLIS
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013 B03AA01 55402
013 B04AA01 3900
015 A00AA01 AMERICAN EXPRESS TRUST COMPANY
015 B00AA01 C
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<PAGE>      PAGE  8
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SIGNATURE   LESLIE L. OGG                                
TITLE       VICE PRESIDENT      
 

<TABLE> <S> <C>


<ARTICLE> 6
<SERIES>
   <NUMBER>  3
   <NAME>  IDS MUTUAL FUND CLASS A
       
<S>                                                              <C>
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</TABLE>

<TABLE> <S> <C>


<ARTICLE> 6
<SERIES>
   <NUMBER>  4
   <NAME>  IDS MUTUAL FUND CLASS B
       
<S>                                                              <C>
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</TABLE>

<TABLE> <S> <C>


<ARTICLE> 6
<SERIES>
   <NUMBER>  5
   <NAME>  IDS MUTUAL FUND CLASS Y
       
<S>                                                             <C>
<PERIOD-TYPE>                                                   6-MOS
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<SHARES-COMMON-STOCK>                                              107287623
<SHARES-COMMON-PRIOR>                                               87273907
<ACCUMULATED-NII-CURRENT>                                            9063143
<OVERDISTRIBUTION-NII>                                                     0
<ACCUMULATED-NET-GAINS>                                            303241421
<OVERDISTRIBUTION-GAINS>                                                   0
<ACCUM-APPREC-OR-DEPREC>                                           684548913
<NET-ASSETS>                                                      1573835766
<DIVIDEND-INCOME>                                                   35547834
<INTEREST-INCOME>                                                   72082202
<OTHER-INCOME>                                                             0
<EXPENSES-NET>                                                      20349701
<NET-INVESTMENT-INCOME>                                             87280335
<REALIZED-GAINS-CURRENT>                                           321667156
<APPREC-INCREASE-CURRENT>                                           50496456
<NET-CHANGE-FROM-OPS>                                              459443947
<EQUALIZATION>                                                             0
<DISTRIBUTIONS-OF-INCOME>                                           26202955
<DISTRIBUTIONS-OF-GAINS>                                           151670487
<DISTRIBUTIONS-OTHER>                                                      0
<NUMBER-OF-SHARES-SOLD>                                             19593252
<NUMBER-OF-SHARES-REDEEMED>                                         12578861
<SHARES-REINVESTED>                                                 12999325
<NET-CHANGE-IN-ASSETS>                                             496307208
<ACCUMULATED-NII-PRIOR>                                             10135000
<ACCUMULATED-GAINS-PRIOR>                                          515983124
<OVERDISTRIB-NII-PRIOR>                                                    0
<OVERDIST-NET-GAINS-PRIOR>                                                 0
<GROSS-ADVISORY-FEES>                                                3574042
<INTEREST-EXPENSE>                                                         0
<GROSS-EXPENSE>                                                     20610917
<AVERAGE-NET-ASSETS>                                              1427981669
<PER-SHARE-NAV-BEGIN>                                                  15.32
<PER-SHARE-NII>                                                          .26
<PER-SHARE-GAIN-APPREC>                                                 1.03
<PER-SHARE-DIVIDEND>                                                     .27
<PER-SHARE-DISTRIBUTIONS>                                               1.67
<RETURNS-OF-CAPITAL>                                                       0
<PER-SHARE-NAV-END>                                                    14.67
<EXPENSE-RATIO>                                                          .80
<AVG-DEBT-OUTSTANDING>                                                     0
<AVG-DEBT-PER-SHARE>                                                       0
        

</TABLE>

<TABLE> <S> <C>


<ARTICLE> 6
<SERIES>
   <NUMBER>  6
   <NAME>  IDS DIVERSIFIED EQUITY INCOME FUND CLASS A
       
<S>                                                              <C>
<PERIOD-TYPE>                                                    6-MOS
<FISCAL-YEAR-END>                                                SEP-30-1998
<PERIOD-END>                                                     MAR-31-1998
<INVESTMENTS-AT-COST>                                                       0
<INVESTMENTS-AT-VALUE>                                                      0
<RECEIVABLES>                                                               0
<ASSETS-OTHER>                                                     2682331318
<OTHER-ITEMS-ASSETS>                                                        0
<TOTAL-ASSETS>                                                     2682331318
<PAYABLE-FOR-SECURITIES>                                                    0
<SENIOR-LONG-TERM-DEBT>                                                     0
<OTHER-ITEMS-LIABILITIES>                                              897668
<TOTAL-LIABILITIES>                                                    897668
<SENIOR-EQUITY>                                                             0
<PAID-IN-CAPITAL-COMMON>                                           2111037822
<SHARES-COMMON-STOCK>                                               200720252
<SHARES-COMMON-PRIOR>                                               172169566
<ACCUMULATED-NII-CURRENT>                                             1801632
<OVERDISTRIBUTION-NII>                                                      0
<ACCUMULATED-NET-GAINS>                                             131302205
<OVERDISTRIBUTION-GAINS>                                                    0
<ACCUM-APPREC-OR-DEPREC>                                            437291991
<NET-ASSETS>                                                       2083717874
<DIVIDEND-INCOME>                                                    27627342
<INTEREST-INCOME>                                                    12412550
<OTHER-INCOME>                                                              0
<EXPENSES-NET>                                                       11388194
<NET-INVESTMENT-INCOME>                                              28651698
<REALIZED-GAINS-CURRENT>                                            146101455
<APPREC-INCREASE-CURRENT>                                           110975583
<NET-CHANGE-FROM-OPS>                                               285728736
<EQUALIZATION>                                                              0
<DISTRIBUTIONS-OF-INCOME>                                            23964393
<DISTRIBUTIONS-OF-GAINS>                                            175753236
<DISTRIBUTIONS-OTHER>                                                       0
<NUMBER-OF-SHARES-SOLD>                                              21950956
<NUMBER-OF-SHARES-REDEEMED>                                          14203756
<SHARES-REINVESTED>                                                  21803486
<NET-CHANGE-IN-ASSETS>                                              463353887
<ACCUMULATED-NII-PRIOR>                                               1899134
<ACCUMULATED-GAINS-PRIOR>                                           207225172
<OVERDISTRIB-NII-PRIOR>                                                     0
<OVERDIST-NET-GAINS-PRIOR>                                                  0
<GROSS-ADVISORY-FEES>                                                 4580152
<INTEREST-EXPENSE>                                                          0
<GROSS-EXPENSE>                                                      11509823
<AVERAGE-NET-ASSETS>                                               1859515233
<PER-SHARE-NAV-BEGIN>                                                   10.39
<PER-SHARE-NII>                                                           .13
<PER-SHARE-GAIN-APPREC>                                                   .99
<PER-SHARE-DIVIDEND>                                                      .13
<PER-SHARE-DISTRIBUTIONS>                                                1.00
<RETURNS-OF-CAPITAL>                                                        0
<PER-SHARE-NAV-END>                                                     10.38
<EXPENSE-RATIO>                                                           .85
<AVG-DEBT-OUTSTANDING>                                                      0
<AVG-DEBT-PER-SHARE>                                                        0
        

</TABLE>

<TABLE> <S> <C>


<ARTICLE> 6
<SERIES>
   <NUMBER>  7
   <NAME>  IDS DIVERSIFIED EQUITY INCOME FUND CLASS B
       
<S>                                                              <C>
<PERIOD-TYPE>                                                    6-MOS
<FISCAL-YEAR-END>                                                SEP-30-1998
<PERIOD-END>                                                     MAR-31-1998
<INVESTMENTS-AT-COST>                                                       0
<INVESTMENTS-AT-VALUE>                                                      0
<RECEIVABLES>                                                               0
<ASSETS-OTHER>                                                     2682331318
<OTHER-ITEMS-ASSETS>                                                        0
<TOTAL-ASSETS>                                                     2682331318
<PAYABLE-FOR-SECURITIES>                                                    0
<SENIOR-LONG-TERM-DEBT>                                                     0
<OTHER-ITEMS-LIABILITIES>                                              897668
<TOTAL-LIABILITIES>                                                    897668
<SENIOR-EQUITY>                                                             0
<PAID-IN-CAPITAL-COMMON>                                           2111037822
<SHARES-COMMON-STOCK>                                                48681651
<SHARES-COMMON-PRIOR>                                                33662590
<ACCUMULATED-NII-CURRENT>                                             1801632
<OVERDISTRIBUTION-NII>                                                      0
<ACCUMULATED-NET-GAINS>                                             131302205
<OVERDISTRIBUTION-GAINS>                                                    0
<ACCUM-APPREC-OR-DEPREC>                                            437291991
<NET-ASSETS>                                                        505363079
<DIVIDEND-INCOME>                                                    27627342
<INTEREST-INCOME>                                                    12412550
<OTHER-INCOME>                                                              0
<EXPENSES-NET>                                                       11388194
<NET-INVESTMENT-INCOME>                                              28651698
<REALIZED-GAINS-CURRENT>                                            146101455
<APPREC-INCREASE-CURRENT>                                           110975583
<NET-CHANGE-FROM-OPS>                                               285728736
<EQUALIZATION>                                                              0
<DISTRIBUTIONS-OF-INCOME>                                             3704565
<DISTRIBUTIONS-OF-GAINS>                                             38518493
<DISTRIBUTIONS-OTHER>                                                       0
<NUMBER-OF-SHARES-SOLD>                                              12571245
<NUMBER-OF-SHARES-REDEEMED>                                           2075418
<SHARES-REINVESTED>                                                   4423234
<NET-CHANGE-IN-ASSETS>                                              463353887
<ACCUMULATED-NII-PRIOR>                                               1899134
<ACCUMULATED-GAINS-PRIOR>                                           207225172
<OVERDISTRIB-NII-PRIOR>                                                     0
<OVERDIST-NET-GAINS-PRIOR>                                                  0
<GROSS-ADVISORY-FEES>                                                 1110822
<INTEREST-EXPENSE>                                                          0
<GROSS-EXPENSE>                                                      11509823
<AVERAGE-NET-ASSETS>                                                409315387
<PER-SHARE-NAV-BEGIN>                                                   10.39
<PER-SHARE-NII>                                                           .09
<PER-SHARE-GAIN-APPREC>                                                  1.00
<PER-SHARE-DIVIDEND>                                                      .10
<PER-SHARE-DISTRIBUTIONS>                                                1.00
<RETURNS-OF-CAPITAL>                                                        0
<PER-SHARE-NAV-END>                                                     10.38
<EXPENSE-RATIO>                                                          1.61
<AVG-DEBT-OUTSTANDING>                                                      0
<AVG-DEBT-PER-SHARE>                                                        0
        

</TABLE>

<TABLE> <S> <C>


<ARTICLE> 6
<SERIES>
   <NUMBER>  8
   <NAME>  IDS DIVERSIFIED EQUITY INCOME FUND CLASS Y
       
<S>                                                               <C>
<PERIOD-TYPE>                                                     6-MOS
<FISCAL-YEAR-END>                                                 SEP-30-1998
<PERIOD-END>                                                      MAR-31-1998
<INVESTMENTS-AT-COST>                                                       0
<INVESTMENTS-AT-VALUE>                                                      0
<RECEIVABLES>                                                               0
<ASSETS-OTHER>                                                     2682331318
<OTHER-ITEMS-ASSETS>                                                        0
<TOTAL-ASSETS>                                                     2682331318
<PAYABLE-FOR-SECURITIES>                                                    0
<SENIOR-LONG-TERM-DEBT>                                                     0
<OTHER-ITEMS-LIABILITIES>                                              897668
<TOTAL-LIABILITIES>                                                    897668
<SENIOR-EQUITY>                                                             0
<PAID-IN-CAPITAL-COMMON>                                           2111037822
<SHARES-COMMON-STOCK>                                                 8893672
<SHARES-COMMON-PRIOR>                                                 7575548
<ACCUMULATED-NII-CURRENT>                                             1801632
<OVERDISTRIBUTION-NII>                                                      0
<ACCUMULATED-NET-GAINS>                                             131302205
<OVERDISTRIBUTION-GAINS>                                                    0
<ACCUM-APPREC-OR-DEPREC>                                            437291991
<NET-ASSETS>                                                         92352697
<DIVIDEND-INCOME>                                                    27627342
<INTEREST-INCOME>                                                    12412550
<OTHER-INCOME>                                                              0
<EXPENSES-NET>                                                       11388194
<NET-INVESTMENT-INCOME>                                              28651698
<REALIZED-GAINS-CURRENT>                                            146101455
<APPREC-INCREASE-CURRENT>                                           110975583
<NET-CHANGE-FROM-OPS>                                               285728736
<EQUALIZATION>                                                              0
<DISTRIBUTIONS-OF-INCOME>                                             1080242
<DISTRIBUTIONS-OF-GAINS>                                              7752693
<DISTRIBUTIONS-OTHER>                                                       0
<NUMBER-OF-SHARES-SOLD>                                               1561375
<NUMBER-OF-SHARES-REDEEMED>                                           1198548
<SHARES-REINVESTED>                                                    955297
<NET-CHANGE-IN-ASSETS>                                              463353887
<ACCUMULATED-NII-PRIOR>                                               1899134
<ACCUMULATED-GAINS-PRIOR>                                           207225172
<OVERDISTRIB-NII-PRIOR>                                                     0
<OVERDIST-NET-GAINS-PRIOR>                                                  0
<GROSS-ADVISORY-FEES>                                                  202997
<INTEREST-EXPENSE>                                                          0
<GROSS-EXPENSE>                                                      11509823
<AVERAGE-NET-ASSETS>                                                 81676798
<PER-SHARE-NAV-BEGIN>                                                   10.40
<PER-SHARE-NII>                                                           .14
<PER-SHARE-GAIN-APPREC>                                                   .98
<PER-SHARE-DIVIDEND>                                                      .14
<PER-SHARE-DISTRIBUTIONS>                                                1.00
<RETURNS-OF-CAPITAL>                                                        0
<PER-SHARE-NAV-END>                                                     10.38
<EXPENSE-RATIO>                                                           .78
<AVG-DEBT-OUTSTANDING>                                                      0
<AVG-DEBT-PER-SHARE>                                                        0
        

</TABLE>


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