<PAGE> PAGE 1
000 B000000 12/31/99
000 C000000 811976
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 VAN ECK WORLDWIDE INSURANCE TRUST
001 B000000 811-5083
001 C000000 2126875200
002 A000000 99 PARK AVENUE
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10016
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 4
007 C010100 1
007 C020100 WORLDWIDE HARD ASSETS FUND
007 C030100 N
007 C010200 2
007 C020200 WORLDWIDE BOND FUND
007 C030200 N
007 C010300 3
007 C020300 YORLDWIDE EMERGING MARKETS FUND
007 C030300 Y
007 C010400 4
007 C020400 WORLDWIDE REAL ESTATE FUND
007 C030400 N
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
077 A000000 N
080 A00AA00 CNA
080 C00AA00 10000
081 A00AA00 Y
081 B00AA00 21
082 A00AA00 Y
082 B00AA00 100
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
<PAGE> PAGE 2
085 A00AA00 Y
085 B00AA00 N
062 A000100 N
062 B000100 0.0
062 C000100 0.0
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
071 A000100 189703
071 B000100 184762
071 C000100 92645
071 D000100 199
072 A000100 12
074 N000100 101065
074 T000100 98911
075 A000100 0
075 B000100 97595
062 A000200 Y
062 B000200 0.0
062 C000200 0.0
062 D000200 3.2
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 29.8
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 67.0
062 R000200 0.0
071 A000200 45191
071 B000200 69955
071 C000200 96472
071 D000200 47
<PAGE> PAGE 3
072 A000200 12
074 A000200 0
074 B000200 0
074 C000200 2747
074 D000200 78791
074 E000200 0
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 0
074 K000200 0
074 L000200 3482
074 M000200 0
074 N000200 85020
074 O000200 0
074 P000200 3
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 142
074 S000200 0
074 T000200 84875
074 U010200 7936
074 U020200 0
074 V010200 10.70
074 V020200 0.00
074 W000200 0.0000
074 X000200 10
074 Y000200 12427
075 A000200 0
075 B000200 106669
062 A000300 N
062 B000300 0.0
062 C000300 0.0
062 D000300 0.0
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 0.0
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 0.0
062 N000300 0.0
062 O000300 0.0
062 P000300 0.0
062 Q000300 0.0
062 R000300 0.0
<PAGE> PAGE 4
071 A000300 243419
071 B000300 160694
071 C000300 112342
071 D000300 143
072 A000300 12
074 N000300 252796
074 T000300 243516
075 A000300 0
075 B000300 83666
062 A000400 N
062 B000400 0.0
062 C000400 0.0
062 D000400 0.0
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 0.0
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 0.0
062 N000400 0.0
062 O000400 0.0
062 P000400 0.0
062 Q000400 0.0
062 R000400 0.0
071 A000400 5276
071 B000400 3780
071 C000400 2198
071 D000400 172
072 A000400 12
074 N000400 3229
074 T000400 3166
075 A000400 0
075 B000400 2008
062 A000500 N
062 B000500 0.0
062 C000500 0.0
062 D000500 0.0
062 E000500 0.0
062 F000500 0.0
062 G000500 0.0
062 H000500 0.0
062 I000500 0.0
062 J000500 0.0
062 K000500 0.0
062 L000500 0.0
062 M000500 0.0
062 N000500 0.0
062 O000500 0.0
<PAGE> PAGE 5
062 P000500 0.0
062 Q000500 0.0
062 R000500 0.0
071 A000500 0
071 B000500 0
071 C000500 0
071 D000500 0
072 A000500 12
074 N000500 0
074 T000500 0
075 A000500 0
075 B000500 0
SIGNATURE ALEX BOGAENKO
TITLE ASST. CONTROLER
Report of Independent Auditors
To the Shareholders and Board of Directors of
Van Eck Worldwide Insurance Trust
In planning and performing our audit of the financial statements of Worldwide
Hard Assets Fund (one of the Funds comprising Van Eck Worldwide Insurance Trust)
(the "Fund") for the year ended December 31, 1999, we considered its internal
control, including control activities for safeguarding securities, in order to
determine our auditing procedures for the purpose of expressing our opinion on
the financial statements and to comply with the requirements of Form N-SAR, not
to provide assurance on internal control.
The management of Fund is responsible for establishing and maintaining internal
control. In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements for external purposes that
are fairly presented in conformity with generally accepted accounting
principles. Those controls include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, error or fraud may occur
and not be detected. Also, projection of any evaluation of internal control to
future periods is subject to the risk that it may become inadequate because of
changes in conditions or that the effectiveness of the design and operation may
deteriorate.
Our consideration of internal control would not necessarily disclose all matters
in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of one or more
of the internal control components does not reduce to a relatively low level the
risk that misstatements caused by error or fraud in amounts that would be
material in relation to the financial statements being audited may occur and not
be detected within a timely period by employees in the normal course of
performing their assigned functions. However, we noted no matters involving
internal control and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as defined above at
December 31, 1999.
This report is intended solely for the information and use of management, the
Board of Directors of Van Eck Worldwide Insurance Trust, and the Securities and
Exchange Commission and is not intended to be and should not be used by anyone
other than these specified parties.
ERNST & YOUNG LLP
January 26, 2000
Report of Independent Auditors
To the Shareholders and Board of Directors of
Van Eck Worldwide Insurance Trust
In planning and performing our audit of the financial statements of Worldwide
Bond Fund (one of the Funds comprising Van Eck Worldwide Insurance Trust) (the
"Fund") for the year ended December 31, 1999, we considered its internal
control, including control activities for safeguarding securities, in order to
determine our auditing procedures for the purpose of expressing our opinion on
the financial statements and to comply with the requirements of Form N-SAR, not
to provide assurance on internal control.
The management of Fund is responsible for establishing and maintaining internal
control. In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements for external purposes that
are fairly presented in conformity with generally accepted accounting
principles. Those controls include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, error or fraud may occur
and not be detected. Also, projection of any evaluation of internal control to
future periods is subject to the risk that it may become inadequate because of
changes in conditions or that the effectiveness of the design and operation may
deteriorate.
Our consideration of internal control would not necessarily disclose all matters
in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of one or more
of the internal control components does not reduce to a relatively low level the
risk that misstatements caused by error or fraud in amounts that would be
material in relation to the financial statements being audited may occur and not
be detected within a timely period by employees in the normal course of
performing their assigned functions. However, we noted no matters involving
internal control and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as defined above at
December 31, 1999.
This report is intended solely for the information and use of management, the
Board of Directors of Van Eck Worldwide Insurance Trust, and the Securities and
Exchange Commission and is not intended to be and should not be used by anyone
other than these specified parties.
ERNST & YOUNG LLP
January 26, 2000
Report of Independent Auditors
To the Shareholders and Board of Directors of
Van Eck Worldwide Insurance Trust
In planning and performing our audit of the financial statements of Worldwide
Emerging Markets Fund (one of the Funds comprising Van Eck Worldwide Insurance
Trust) (the "Fund") for the year ended December 31, 1999, we considered its
internal control, including control activities for safeguarding securities, in
order to determine our auditing procedures for the purpose of expressing our
opinion on the financial statements and to comply with the requirements of Form
N-SAR, not to provide assurance on internal control.
The management of Fund is responsible for establishing and maintaining internal
control. In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements for external purposes that
are fairly presented in conformity with generally accepted accounting
principles. Those controls include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, error or fraud may occur
and not be detected. Also, projection of any evaluation of internal control to
future periods is subject to the risk that it may become inadequate because of
changes in conditions or that the effectiveness of the design and operation may
deteriorate.
Our consideration of internal control would not necessarily disclose all matters
in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of one or more
of the internal control components does not reduce to a relatively low level the
risk that misstatements caused by error or fraud in amounts that would be
material in relation to the financial statements being audited may occur and not
be detected within a timely period by employees in the normal course of
performing their assigned functions. However, we noted no matters involving
internal control and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as defined above at
December 31, 1999.
This report is intended solely for the information and use of management, the
Board of Directors of Van Eck Worldwide Insurance Trust, and the Securities and
Exchange Commission and is not intended to be and should not be used by anyone
other than these specified parties.
ERNST & YOUNG LLP
January 26, 2000
Report of Independent Auditors
To the Shareholders and Board of Directors of
Van Eck Worldwide Insurance Trust
In planning and performing our audit of the financial statements of Worldwide
Real Estate Fund (one of the Funds comprising Van Eck Worldwide Insurance Trust)
(the "Fund") for the year ended December 31, 1999, we considered its internal
control, including control activities for safeguarding securities, in order to
determine our auditing procedures for the purpose of expressing our opinion on
the financial statements and to comply with the requirements of Form N-SAR, not
to provide assurance on internal control.
The management of Fund is responsible for establishing and maintaining internal
control. In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements for external purposes that
are fairly presented in conformity with generally accepted accounting
principles. Those controls include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, error or fraud may occur
and not be detected. Also, projection of any evaluation of internal control to
future periods is subject to the risk that it may become inadequate because of
changes in conditions or that the effectiveness of the design and operation may
deteriorate.
Our consideration of internal control would not necessarily disclose all matters
in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of one or more
of the internal control components does not reduce to a relatively low level the
risk that misstatements caused by error or fraud in amounts that would be
material in relation to the financial statements being audited may occur and not
be detected within a timely period by employees in the normal course of
performing their assigned functions. However, we noted no matters involving
internal control and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as defined above at
December 31, 1999.
This report is intended solely for the information and use of management, the
Board of Directors of Van Eck Worldwide Insurance Trust, and the Securities and
Exchange Commission and is not intended to be and should not be used by anyone
other than these specified parties.
ERNST & YOUNG LLP
January 26, 2000
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 1
<NAME> Worldwide Hard Assets Fund
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 89,504,859
<INVESTMENTS-AT-VALUE> 97,028,070
<RECEIVABLES> 3,689,485
<ASSETS-OTHER> 236,900
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 101,065,425
<PAYABLE-FOR-SECURITIES> 457,579
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,697,297
<TOTAL-LIABILITIES> 2,154,876
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 117,480,531
<SHARES-COMMON-STOCK> 9,020,775
<SHARES-COMMON-PRIOR> 10,789,194
<ACCUMULATED-NII-CURRENT> 1,402,621
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (26,976,111)
<ACCUM-APPREC-OR-DEPREC> 7,368,214
<NET-ASSETS> 98,910,549
<DIVIDEND-INCOME> 2,203,725
<INTEREST-INCOME> 465,877
<OTHER-INCOME> 0
<EXPENSES-NET> 1,266,981
<NET-INVESTMENT-INCOME> 1,402,621
<REALIZED-GAINS-CURRENT> (7,798,150)
<APPREC-INCREASE-CURRENT> 23,981,515
<NET-CHANGE-FROM-OPS> 17,585,986
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,337,036
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 227,914,783
<NUMBER-OF-SHARES-REDEEMED> 232,402,878
<SHARES-REINVESTED> 1,337,036
<NET-CHANGE-IN-ASSETS> 13,097,891
<ACCUMULATED-NII-PRIOR> 1,183,174
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (18,916,172)
<GROSS-ADVISORY-FEES> 1,006,500
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,226,981
<AVERAGE-NET-ASSETS> 111,833,333
<PER-SHARE-NAV-BEGIN> 9.20
<PER-SHARE-NII> 0.15
<PER-SHARE-GAIN-APPREC> 1.75
<PER-SHARE-DIVIDEND> (0.14)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.96
<EXPENSE-RATIO> 1.26
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 2
<NAME> WORLDWIDE BOND FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 85,920,626
<INVESTMENTS-AT-VALUE> 81,537,803
<RECEIVABLES> 3,026,648
<ASSETS-OTHER> 438,161
<OTHER-ITEMS-ASSETS> 17,126
<TOTAL-ASSETS> 85,019,738
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 144759
<TOTAL-LIABILITIES> 144759
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 86,746,666
<SHARES-COMMON-STOCK> 7,936,486
<SHARES-COMMON-PRIOR> 9,714,626
<ACCUMULATED-NII-CURRENT> 4,908,346
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1,961,553)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 11,643,319
<NET-ASSETS> 84,874,979
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 6,130,817
<OTHER-INCOME> 0
<EXPENSES-NET> 1,222,471
<NET-INVESTMENT-INCOME> 4,908,346
<REALIZED-GAINS-CURRENT> 1,747,285
<APPREC-INCREASE-CURRENT> (11,643,319)
<NET-CHANGE-FROM-OPS> (8,696,526)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 4,563,103
<DISTRIBUTIONS-OF-GAINS> 2,038,833
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 65,420,051
<NUMBER-OF-SHARES-REDEEMED> 91,131,055
<SHARES-REINVESTED> 6,601,936
<NET-CHANGE-IN-ASSETS> (34,407,530)
<ACCUMULATED-NII-PRIOR> 4,450,964
<ACCUMULATED-GAINS-PRIOR> 972,333
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 530,288
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,222,471
<AVERAGE-NET-ASSETS> 58,920,889
<PER-SHARE-NAV-BEGIN> 12.28
<PER-SHARE-NII> 0.61
<PER-SHARE-GAIN-APPREC> (1.52)
<PER-SHARE-DIVIDEND> (0.47)
<PER-SHARE-DISTRIBUTIONS> (0.21)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.69
<EXPENSE-RATIO> 1.22
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 3
<NAME> WORLDWIDE EMERGING MARKETS FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 152,780,890
<INVESTMENTS-AT-VALUE> 232,426,579
<RECEIVABLES> 12,345,914
<ASSETS-OTHER> 838,509
<OTHER-ITEMS-ASSETS> 1,407
<TOTAL-ASSETS> 252,795,610
<PAYABLE-FOR-SECURITIES> 4,184,461
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5,094,809
<TOTAL-LIABILITIES> 9,279,270
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 198,223,212
<SHARES-COMMON-STOCK> 17,071,136
<SHARES-COMMON-PRIOR> 7,659,493
<ACCUMULATED-NII-CURRENT> 935,528
<OVERDISTRIBUTION-NII> (9,785)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (34,145,982)
<ACCUM-APPREC-OR-DEPREC> 83,400,026
<NET-ASSETS> 243,516,340
<DIVIDEND-INCOME> 2,046,020
<INTEREST-INCOME> 695,065
<OTHER-INCOME> 0
<EXPENSES-NET> 1,805,557
<NET-INVESTMENT-INCOME> 935,528
<REALIZED-GAINS-CURRENT> 14,321,620
<APPREC-INCREASE-CURRENT> (83,400,026)
<NET-CHANGE-FROM-OPS> 98,657,174
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 416,658,982
<NUMBER-OF-SHARES-REDEEMED> 326,312,676
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 189,003,480
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 1,567,187
<OVERDIST-NET-GAINS-PRIOR> 48,926,066
<GROSS-ADVISORY-FEES> 1,172,736
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,805,557
<AVERAGE-NET-ASSETS> 130,304,000
<PER-SHARE-NAV-BEGIN> 7.12
<PER-SHARE-NII> 0.10
<PER-SHARE-GAIN-APPREC> 7.04
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 14.26
<EXPENSE-RATIO> 1.34
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 4
<NAME> WORLDWIDE REAL ESTATE
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 3,278,123
<INVESTMENTS-AT-VALUE> 3,068,899
<RECEIVABLES> 94,519
<ASSETS-OTHER> 16,544
<OTHER-ITEMS-ASSETS> 3,768
<TOTAL-ASSETS> 3,229,050
<PAYABLE-FOR-SECURITIES> 32,004
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 30,559
<TOTAL-LIABILITIES> 62,563
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,441,650
<SHARES-COMMON-STOCK> 345,980
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 77,780
<OVERDISTRIBUTION-NII> 56,667
<ACCUMULATED-NET-GAINS> 35,889
<OVERDISTRIBUTION-GAINS> (122,467)
<ACCUM-APPREC-OR-DEPREC> (203,635)
<NET-ASSETS> 3,166,487
<DIVIDEND-INCOME> 101,521
<INTEREST-INCOME> 9,846
<OTHER-INCOME> 0
<EXPENSES-NET> 33,587
<NET-INVESTMENT-INCOME> 77,780
<REALIZED-GAINS-CURRENT> 35,889
<APPREC-INCREASE-CURRENT> (203,635)
<NET-CHANGE-FROM-OPS> (89,966)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 38,540
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,176,857
<NUMBER-OF-SHARES-REDEEMED> 826,782
<SHARES-REINVESTED> 38,540
<NET-CHANGE-IN-ASSETS> 1,260,109
<ACCUMULATED-NII-PRIOR> 29,972
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 151,685
<GROSS-ADVISORY-FEES> 23,366
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 75,524
<AVERAGE-NET-ASSETS> 2,596,222
<PER-SHARE-NAV-BEGIN> 9.54
<PER-SHARE-NII> 0.25
<PER-SHARE-GAIN-APPREC> (0.44)
<PER-SHARE-DIVIDEND> 0.20
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 9.15
<EXPENSE-RATIO> 1.44
</TABLE>
