<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 3
<NAME> AXP VP DIVERSIFIED EQUITY INCOME FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> AUG-31-2000
<PERIOD-END> AUG-31-2000
<INVESTMENTS-AT-COST> 21995728
<INVESTMENTS-AT-VALUE> 22891932
<RECEIVABLES> 48565
<ASSETS-OTHER> 471713
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 23412210
<PAYABLE-FOR-SECURITIES> 549421
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 80822
<TOTAL-LIABILITIES> 630243
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 22175320
<SHARES-COMMON-STOCK> 2265882
<SHARES-COMMON-PRIOR> 200000
<ACCUMULATED-NII-CURRENT> 470
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 290026
<ACCUM-APPREC-OR-DEPREC> 896203
<NET-ASSETS> 22781967
<DIVIDEND-INCOME> 215573
<INTEREST-INCOME> 52425
<OTHER-INCOME> 0
<EXPENSES-NET> 107346
<NET-INVESTMENT-INCOME> 160652
<REALIZED-GAINS-CURRENT> (289560)
<APPREC-INCREASE-CURRENT> 945865
<NET-CHANGE-FROM-OPS> 816957
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 162618
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2417294
<NUMBER-OF-SHARES-REDEEMED> 361943
<SHARES-REINVESTED> 10531
<NET-CHANGE-IN-ASSETS> 20830129
<ACCUMULATED-NII-PRIOR> 1500
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 63161
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 168556
<AVERAGE-NET-ASSETS> 11676254
<PER-SHARE-NAV-BEGIN> 9.76
<PER-SHARE-NII> .10
<PER-SHARE-GAIN-APPREC> .30
<PER-SHARE-DIVIDEND> .11
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.05
<EXPENSE-RATIO> .95
</TABLE>
