FEDERATED HIGH YIELD TRUST
NSAR-B, 1996-04-30
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<PAGE>      PAGE  1
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<PAGE>      PAGE  2
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SIGNATURE   S. ELLIOTT COHAN                             
TITLE       ASST. GEN. COUNSEL  
 


<TABLE> <S> <C>

                                                                               
<S>                             <C>                                            
                                                                               
<ARTICLE>                       6                                              
<SERIES>                                                                       
     <NUMBER>                   001                                            
     <NAME>                     Federated High Yield Trust                     
                                                                               
                                                                               
<PERIOD-TYPE>                   12-Mos                                         
<FISCAL-YEAR-END>               Feb-29-1996                                    
<PERIOD-END>                    Feb-29-1996                                    
<INVESTMENTS-AT-COST>           672,154,365                                    
<INVESTMENTS-AT-VALUE>          668,011,412                                    
<RECEIVABLES>                   43,882,809                                     
<ASSETS-OTHER>                  0                                              
<OTHER-ITEMS-ASSETS>            0                                              
<TOTAL-ASSETS>                  711,894,221                                    
<PAYABLE-FOR-SECURITIES>        15,920,361                                     
<SENIOR-LONG-TERM-DEBT>         0                                              
<OTHER-ITEMS-LIABILITIES>       22,194,859                                     
<TOTAL-LIABILITIES>             38,115,220                                     
<SENIOR-EQUITY>                 0                                              
<PAID-IN-CAPITAL-COMMON>        702,037,431                                    
<SHARES-COMMON-STOCK>           74,135,277                                     
<SHARES-COMMON-PRIOR>           54,220,503                                     
<ACCUMULATED-NII-CURRENT>       0                                              
<OVERDISTRIBUTION-NII>          188,496                                        
<ACCUMULATED-NET-GAINS>         (23,926,981)                                   
<OVERDISTRIBUTION-GAINS>        0                                              
<ACCUM-APPREC-OR-DEPREC>        (4,142,953)                                    
<NET-ASSETS>                    673,779,001                                    
<DIVIDEND-INCOME>               288,439                                        
<INTEREST-INCOME>               58,338,969                                     
<OTHER-INCOME>                  0                                              
<EXPENSES-NET>                  4,964,751                                      
<NET-INVESTMENT-INCOME>         53,662,657                                     
<REALIZED-GAINS-CURRENT>        4,263,986                                      
<APPREC-INCREASE-CURRENT>       27,446,647                                     
<NET-CHANGE-FROM-OPS>           85,373,290                                     
<EQUALIZATION>                  0                                              
<DISTRIBUTIONS-OF-INCOME>       53,311,137                                     
<DISTRIBUTIONS-OF-GAINS>        0                                              
<DISTRIBUTIONS-OTHER>           0                                              
<NUMBER-OF-SHARES-SOLD>         94,114,448                                     
<NUMBER-OF-SHARES-REDEEMED>     78,383,729                                     
<SHARES-REINVESTED>             4,184,055                                      
<NET-CHANGE-IN-ASSETS>          209,174,696                                    
<ACCUMULATED-NII-PRIOR>         0                                              
<ACCUMULATED-GAINS-PRIOR>       (27,870,857)                                   
<OVERDISTRIB-NII-PRIOR>         442,203                                        
<OVERDIST-NET-GAINS-PRIOR>      0                                              
<GROSS-ADVISORY-FEES>           4,223,631                                      
<INTEREST-EXPENSE>              0                                              
<GROSS-EXPENSE>                 6,661,810                                      
<AVERAGE-NET-ASSETS>            560,911,502                                    
<PER-SHARE-NAV-BEGIN>           8.570                                          
<PER-SHARE-NII>                 0.850                                          
<PER-SHARE-GAIN-APPREC>         0.510                                          
<PER-SHARE-DIVIDEND>            0.840                                          
<PER-SHARE-DISTRIBUTIONS>       0.000                                          
<RETURNS-OF-CAPITAL>            0.000                                          
<PER-SHARE-NAV-END>             9.090                                          
<EXPENSE-RATIO>                 0.88                                           
<AVG-DEBT-OUTSTANDING>          0                                              
<AVG-DEBT-PER-SHARE>            0.000                                          
                                                                               

</TABLE>


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