<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 3
<NAME> AXP MUTUAL FUND CLASS B
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-END> SEP-30-2000
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 4013917674
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4013917674
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 116887
<TOTAL-LIABILITIES> 116887
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3873596251
<SHARES-COMMON-STOCK> 33283379
<SHARES-COMMON-PRIOR> 35716069
<ACCUMULATED-NII-CURRENT> 5556629
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 42456114
<ACCUM-APPREC-OR-DEPREC> 177094021
<NET-ASSETS> 403247011
<DIVIDEND-INCOME> 41017599
<INTEREST-INCOME> 109933183
<OTHER-INCOME> 0
<EXPENSES-NET> 40619465
<NET-INVESTMENT-INCOME> 110331317
<REALIZED-GAINS-CURRENT> 8877419
<APPREC-INCREASE-CURRENT> 54556042
<NET-CHANGE-FROM-OPS> 173764778
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 7697286
<DISTRIBUTIONS-OF-GAINS> 32551037
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6803896
<NUMBER-OF-SHARES-REDEEMED> 12436622
<SHARES-REINVESTED> 3200036
<NET-CHANGE-IN-ASSETS> (691201744)
<ACCUMULATED-NII-PRIOR> 2722083
<ACCUMULATED-GAINS-PRIOR> 273842299
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2071811
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 40922648
<AVERAGE-NET-ASSETS> 451099081
<PER-SHARE-NAV-BEGIN> 12.86
<PER-SHARE-NII> .22
<PER-SHARE-GAIN-APPREC> .16
<PER-SHARE-DIVIDEND> .21
<PER-SHARE-DISTRIBUTIONS> .91
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.12
<EXPENSE-RATIO> 1.64
</TABLE>
