<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 2
<NAME> AXP UTILITIES INCOME FUND CLASS B
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-END> JUN-30-2000
<INVESTMENTS-AT-COST> 1899284146
<INVESTMENTS-AT-VALUE> 2106005277
<RECEIVABLES> 47505127
<ASSETS-OTHER> 10084371
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2163594775
<PAYABLE-FOR-SECURITIES> 5192507
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 26578278
<TOTAL-LIABILITIES> 31770785
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1836989493
<SHARES-COMMON-STOCK> 70590282
<SHARES-COMMON-PRIOR> 46452053
<ACCUMULATED-NII-CURRENT> 302011
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 87808644
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 206723842
<NET-ASSETS> 646408840
<DIVIDEND-INCOME> 52829320
<INTEREST-INCOME> 7302501
<OTHER-INCOME> 0
<EXPENSES-NET> 24405291
<NET-INVESTMENT-INCOME> 35726530
<REALIZED-GAINS-CURRENT> 114895294
<APPREC-INCREASE-CURRENT> (117151373)
<NET-CHANGE-FROM-OPS> 33470451
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 6981685
<DISTRIBUTIONS-OF-GAINS> 42653415
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 32090828
<NUMBER-OF-SHARES-REDEEMED> 13209670
<SHARES-REINVESTED> 5257071
<NET-CHANGE-IN-ASSETS> 298565164
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 123178829
<OVERDISTRIB-NII-PRIOR> 584
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 11444496
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 24507215
<AVERAGE-NET-ASSETS> 571110947
<PER-SHARE-NAV-BEGIN> 9.91
<PER-SHARE-NII> .12
<PER-SHARE-GAIN-APPREC> (.03)
<PER-SHARE-DIVIDEND> .11
<PER-SHARE-DISTRIBUTIONS> .73
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.16
<EXPENSE-RATIO> 1.75
</TABLE>
