<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 2
<NAME> AXP PRECIOUS METALS FUND CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-2001
<PERIOD-END> SEP-30-2000
<INVESTMENTS-AT-COST> 37503575
<INVESTMENTS-AT-VALUE> 38864961
<RECEIVABLES> 114080
<ASSETS-OTHER> 5236
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 38984277
<PAYABLE-FOR-SECURITIES> 818100
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 65501
<TOTAL-LIABILITIES> 883601
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 83390489
<SHARES-COMMON-STOCK> 1585347
<SHARES-COMMON-PRIOR> 1785865
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 99374
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 46550287
<ACCUM-APPREC-OR-DEPREC> 1359848
<NET-ASSETS> 7041558
<DIVIDEND-INCOME> 191314
<INTEREST-INCOME> 100214
<OTHER-INCOME> 0
<EXPENSES-NET> 390902
<NET-INVESTMENT-INCOME> (99374)
<REALIZED-GAINS-CURRENT> (7925153)
<APPREC-INCREASE-CURRENT> 4416556
<NET-CHANGE-FROM-OPS> 3607971
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 112035
<NUMBER-OF-SHARES-REDEEMED> 312553
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (8620005)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 38625134
<GROSS-ADVISORY-FEES> 164931
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 395362
<AVERAGE-NET-ASSETS> 7876269
<PER-SHARE-NAV-BEGIN> 4.85
<PER-SHARE-NII> (.03)
<PER-SHARE-GAIN-APPREC> (.38)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 4.44
<EXPENSE-RATIO> 2.49
</TABLE>
