<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Aarp
Gnma And U.S. Treasury Fund Semiannual Report for the six months ended 3/31/00
and is qualified in its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 2
<NAME> AARP GNMA and U.S. Treasury Fund
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-START> OCT-01-1999
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 4,995,927,622
<INVESTMENTS-AT-VALUE> 4,943,643,896
<RECEIVABLES> 423,992,314
<ASSETS-OTHER> 121,166
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 5,367,757,376
<PAYABLE-FOR-SECURITIES> 1,524,238,727
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 14,588,546
<TOTAL-LIABILITIES> 1,538,827,273
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4,286,470,037
<SHARES-COMMON-STOCK> 265,338,324
<SHARES-COMMON-PRIOR> 288,594,032
<ACCUMULATED-NII-CURRENT> (8,854,922)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (393,149,257)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (55,535,755)
<NET-ASSETS> 3,828,930,103
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 143,859,039
<OTHER-INCOME> 0
<EXPENSES-NET> 14,575,481
<NET-INVESTMENT-INCOME> 129,283,558
<REALIZED-GAINS-CURRENT> (62,375,705)
<APPREC-INCREASE-CURRENT> 9,276,285
<NET-CHANGE-FROM-OPS> 76,184,138
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (129,222,944)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 84,271,985
<NUMBER-OF-SHARES-REDEEMED> (493,794,644)
<SHARES-REINVESTED> 75,429,299
<NET-CHANGE-IN-ASSETS> (387,132,166)
<ACCUMULATED-NII-PRIOR> (8,915,536)
<ACCUMULATED-GAINS-PRIOR> (330,773,552)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 8,054,740
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 14,659,254
<AVERAGE-NET-ASSETS> 4,006,903,416
<PER-SHARE-NAV-BEGIN> 14.61
<PER-SHARE-NII> 0.47
<PER-SHARE-GAIN-APPREC> (0.18)
<PER-SHARE-DIVIDEND> (0.47)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 14.43
<EXPENSE-RATIO> 0.73
</TABLE>
