<PAGE> PAGE 1
000 B000000 12/31/99
000 C000000 833045
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 SAFECO TAXABLE BOND TRUST
001 B000000 811-5574
001 C000000 4253768213
002 A000000 10865 WILLOWS ROAD NE E-2
002 B000000 REDMOND
002 C000000 WA
002 D010000 98052
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 3
007 C010100 1
007 C020100 SAFECO HIGH-YIELD BOND FUND
007 C030100 N
007 C010200 2
007 C020200 SAFECO INTERMEDIATE-TERM U.S. TREASURY FUND
007 C030200 N
007 C010300 3
007 C020300 SAFECO GNMA FUND
007 C030300 N
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
007 C011100 11
007 C011200 12
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
007 C012100 21
007 C012200 22
007 C012300 23
<PAGE> PAGE 2
007 C012400 24
007 C012500 25
007 C012600 26
007 C012700 27
007 C012800 28
007 C012900 29
007 C013000 30
007 C013100 31
007 C013200 32
007 C013300 33
007 C013400 34
007 C013500 35
007 C013600 36
007 C013700 37
007 C013800 38
007 C013900 39
007 C014000 40
008 A00AA01 SAFECO ASSET MANAGEMENT COMPANY
008 B00AA01 A
008 C00AA01 801-8254
008 D01AA01 SEATTLE
008 D02AA01 WA
008 D03AA01 98185
011 A00AA01 SAFECO SECURITIES, INC.
011 B00AA01 8-13470
011 C01AA01 SEATTLE
011 C02AA01 WA
011 C03AA01 98185
012 A00AA01 SAFECO SERVICES CORPORATION
012 B00AA01 84-00138
012 C01AA01 SEATTLE
012 C02AA01 WA
012 C03AA01 98185
013 A00AA01 ERNST & YOUNG, LLP
013 B01AA01 SEATTLE
013 B02AA01 WA
013 B03AA01 98104
013 B04AA01 4086
015 A00AA01 STATE STREET BANK
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02105
015 C04AA01 1713
015 E01AA01 X
015 A00AA02 DELETE
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 25
019 C00AA00 SAFECOFUND
020 C000001 0
<PAGE> PAGE 3
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 SSGA PRIME MONEY MARKET PORTFOLIO
022 B000001 91-1627438
022 C000001 42365
022 D000001 47674
022 A000002 SSGA US TREASURY MONEY MARKET PORTFOLIO
022 B000002 91-1618599
022 C000002 28680
022 D000002 29041
022 A000003 AIM SHORT TERM INVESTMENT CO.
022 B000003 76-0408552
022 C000003 19195
022 D000003 19195
022 A000004 SALOMON SMITH BARNEY, INC.
022 B000004 13-2919773
022 C000004 16637
022 D000004 11839
022 A000005 MERRILL, LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000005 13-5674085
022 C000005 20061
022 D000005 5099
022 A000006 BEAR, STEARNS & CO.
022 B000006 13-3299429
022 C000006 12783
022 D000006 12344
022 A000007 GOLDMAN SACHS & CO.
022 B000007 13-5108880
022 C000007 13964
022 D000007 10250
022 A000008 LEHMAN BROTHERS, INC.
022 B000008 13-2518466
022 C000008 17634
022 D000008 5895
022 A000009 PAINEWEBBER, INC.
022 B000009 13-2638166
022 C000009 17452
022 D000009 1575
022 A000010 ASSOCIATES CORP. OF NORTH AMERICA
022 B000010 74-1494554
022 C000010 13194
022 D000010 0
023 C000000 279511
<PAGE> PAGE 4
023 D000000 209574
024 00AA00 N
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 Y
027 000000 Y
030 A000000 0
030 B000000 0.00
030 C000000 0.00
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 Y
053 B00AA00 Y
054 A00AA00 Y
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 Y
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 1000
066 A00AA00 N
067 00AA00 N
<PAGE> PAGE 5
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
077 A000000 Y
077 B000000 Y
077 C000000 Y
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
086 A01AA00 0
086 A02AA00 0
086 B01AA00 0
086 B02AA00 0
086 C01AA00 0
086 C02AA00 0
086 D01AA00 0
086 D02AA00 0
086 E01AA00 0
086 E02AA00 0
<PAGE> PAGE 6
086 F01AA00 0
086 F02AA00 0
028 A010100 7096
028 A020100 372
028 A030100 0
028 A040100 5393
028 B010100 3945
028 B020100 358
028 B030100 0
028 B040100 4769
028 C010100 1682
028 C020100 352
028 C030100 0
028 C040100 4123
028 D010100 1241
028 D020100 364
028 D030100 0
028 D040100 1859
028 E010100 7060
028 E020100 383
028 E030100 0
028 E040100 3242
028 F010100 2233
028 F020100 492
028 F030100 0
028 F040100 6268
028 G010100 23257
028 G020100 2321
028 G030100 0
028 G040100 25654
028 H000100 486
029 000100 Y
030 A000100 23
030 B000100 4.50
030 C000100 0.00
031 A000100 3
031 B000100 0
032 000100 13
033 000100 7
034 000100 Y
035 000100 5
036 A000100 N
036 B000100 0
037 000100 N
038 000100 0
039 000100 N
040 000100 Y
041 000100 Y
042 A000100 0
042 B000100 0
042 C000100 100
<PAGE> PAGE 7
042 D000100 0
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 24
044 000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.000
048 A010100 250000
048 A020100 0.650
048 B010100 500000
048 B020100 0.550
048 C010100 0
048 C020100 0.000
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 750000
048 K020100 0.500
055 A000100 N
055 B000100 Y
056 000100 Y
057 000100 N
062 A000100 Y
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 2.0
062 M000100 0.0
062 N000100 0.0
<PAGE> PAGE 8
062 O000100 0.0
062 P000100 89.9
062 Q000100 2.1
062 R000100 5.3
063 A000100 0
063 B000100 8.2
064 A000100 N
064 B000100 N
070 A010100 Y
070 A020100 N
070 B010100 Y
070 B020100 N
070 C010100 Y
070 C020100 N
070 D010100 Y
070 D020100 N
070 E010100 Y
070 E020100 N
070 F010100 Y
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 Y
070 H020100 N
070 I010100 Y
070 I020100 N
070 J010100 Y
070 J020100 Y
070 K010100 Y
070 K020100 Y
070 L010100 Y
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 Y
070 P010100 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 Y
070 R020100 N
071 A000100 54727
071 B000100 55379
071 C000100 78385
071 D000100 71
072 A000100 12
072 B000100 7373
072 C000100 210
<PAGE> PAGE 9
072 D000100 0
072 E000100 0
072 F000100 482
072 G000100 48
072 H000100 0
072 I000100 167
072 J000100 8
072 K000100 0
072 L000100 33
072 M000100 6
072 N000100 0
072 O000100 0
072 P000100 13
072 Q000100 0
072 R000100 25
072 S000100 0
072 T000100 24
072 U000100 0
072 V000100 0
072 W000100 37
072 X000100 843
072 Y000100 41
072 Z000100 6781
072AA000100 0
072BB000100 1769
072CC010100 0
072CC020100 2107
072DD010100 6470
072DD020100 311
072EE000100 0
073 A010100 0.7118
073 A020100 1.3208
073 B000100 0.0000
073 C000100 0.0000
074 A000100 0
074 B000100 0
074 C000100 1533
074 D000100 70109
074 E000100 3975
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 0
074 K000100 0
074 L000100 1616
074 M000100 0
074 N000100 77233
074 O000100 0
074 P000100 0
074 Q000100 0
<PAGE> PAGE 10
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 1047
074 S000100 0
074 T000100 76186
074 U010100 8711
074 U020100 380
074 V010100 8.38
074 V020100 8.38
074 W000100 0.0000
074 X000100 5254
074 Y000100 0
075 A000100 0
075 B000100 81879
076 000100 0.00
080 A000100 UNITED PACIFIC INSURANCE COMPANY
080 C000100 3000
081 A000100 N
081 B000100 0
082 A000100 N
082 B000100 0
028 A010200 667
028 A020200 65
028 A030200 0
028 A040200 394
028 B010200 362
028 B020200 59
028 B030200 0
028 B040200 761
028 C010200 544
028 C020200 64
028 C030200 0
028 C040200 481
028 D010200 262
028 D020200 63
028 D030200 0
028 D040200 929
028 E010200 492
028 E020200 60
028 E030200 0
028 E040200 581
028 F010200 194
028 F020200 65
028 F030200 0
028 F040200 549
028 G010200 2521
028 G020200 376
028 G030200 0
028 G040200 3695
028 H000200 274
<PAGE> PAGE 11
029 000200 Y
030 A000200 6
030 B000200 4.50
030 C000200 0.00
031 A000200 1
031 B000200 0
032 000200 2
033 000200 3
034 000200 Y
035 000200 4
036 A000200 N
036 B000200 0
037 000200 N
038 000200 0
039 000200 N
040 000200 Y
041 000200 Y
042 A000200 0
042 B000200 0
042 C000200 100
042 D000200 0
042 E000200 0
042 F000200 0
042 G000200 0
042 H000200 0
043 000200 10
044 000200 0
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.000
048 A010200 250000
048 A020200 0.550
048 B010200 500000
048 B020200 0.500
048 C010200 500000
048 C020200 0.450
048 D010200 0
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
<PAGE> PAGE 12
048 K010200 1250000
048 K020200 0.400
055 A000200 N
055 B000200 N
056 000200 Y
057 000200 N
062 A000200 Y
062 B000200 0.0
062 C000200 0.0
062 D000200 0.0
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 1.1
062 M000200 79.1
062 N000200 18.4
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
063 A000200 0
063 B000200 4.7
064 A000200 N
064 B000200 N
070 A010200 Y
070 A020200 N
070 B010200 Y
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 Y
070 D020200 N
070 E010200 Y
070 E020200 N
070 F010200 Y
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 Y
070 H020200 N
070 I010200 Y
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 Y
070 L010200 Y
<PAGE> PAGE 13
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 Y
070 R020200 N
071 A000200 16163
071 B000200 18918
071 C000200 18475
071 D000200 14
072 A000200 12
072 B000200 1376
072 C000200 0
072 D000200 0
072 E000200 0
072 F000200 123
072 G000200 13
072 H000200 0
072 I000200 56
072 J000200 3
072 K000200 0
072 L000200 9
072 M000200 6
072 N000200 0
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 20
072 S000200 0
072 T000200 10
072 U000200 0
072 V000200 0
072 W000200 21
072 X000200 261
072 Y000200 42
072 Z000200 1157
072AA000200 0
072BB000200 33
072CC010200 0
072CC020200 1619
072DD010200 1077
072DD020200 80
072EE000200 0
073 A010200 0.5366
<PAGE> PAGE 14
073 A020200 0.9387
073 B000200 0.0000
073 C000200 0.0000
074 A000200 0
074 B000200 0
074 C000200 221
074 D000200 20330
074 E000200 0
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 0
074 K000200 0
074 L000200 344
074 M000200 0
074 N000200 20895
074 O000200 0
074 P000200 0
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 59
074 S000200 0
074 T000200 20836
074 U010200 1912
074 U020200 174
074 V010200 9.99
074 V020200 10.00
074 W000200 0.0000
074 X000200 1902
074 Y000200 0
075 A000200 0
075 B000200 22383
076 000200 0.00
080 A000200 UNITED PACIFIC INSURANCE COMPANY
080 C000200 3000
081 A000200 N
081 B000200 0
082 A000200 N
082 B000200 0
028 A010300 1172
028 A020300 165
028 A030300 0
028 A040300 1033
028 B010300 430
028 B020300 155
028 B030300 0
028 B040300 835
028 C010300 323
<PAGE> PAGE 15
028 C020300 166
028 C030300 0
028 C040300 1097
028 D010300 510
028 D020300 155
028 D030300 0
028 D040300 1524
028 E010300 589
028 E020300 155
028 E030300 0
028 E040300 1125
028 F010300 243
028 F020300 163
028 F030300 0
028 F040300 1016
028 G010300 3267
028 G020300 959
028 G030300 0
028 G040300 6630
028 H000300 0
029 000300 N
030 A000300 0
030 B000300 0.00
030 C000300 0.00
031 A000300 0
031 B000300 0
032 000300 0
033 000300 0
034 000300 N
035 000300 0
036 B000300 0
037 000300 N
038 000300 0
039 000300 N
040 000300 N
041 000300 N
042 A000300 0
042 B000300 0
042 C000300 0
042 D000300 0
042 E000300 0
042 F000300 0
042 G000300 0
042 H000300 0
043 000300 0
044 000300 0
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.000
048 A010300 250000
<PAGE> PAGE 16
048 A020300 0.550
048 B010300 500000
048 B020300 0.500
048 C010300 500000
048 C020300 0.450
048 D010300 0
048 D020300 0.000
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
048 G020300 0.000
048 H010300 0
048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 1250000
048 K020300 0.400
055 A000300 N
055 B000300 N
056 000300 Y
057 000300 N
062 A000300 Y
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 0.6
062 M000300 0.0
062 N000300 99.0
062 O000300 0.0
062 P000300 0.0
062 Q000300 0.0
062 R000300 0.0
063 A000300 0
063 B000300 9.6
064 A000300 Y
064 B000300 N
070 A010300 Y
070 A020300 N
070 B010300 Y
070 B020300 N
<PAGE> PAGE 17
070 C010300 Y
070 C020300 N
070 D010300 Y
070 D020300 N
070 E010300 Y
070 E020300 N
070 F010300 Y
070 F020300 N
070 G010300 Y
070 G020300 N
070 H010300 Y
070 H020300 N
070 I010300 Y
070 I020300 N
070 J010300 N
070 J020300 N
070 K010300 Y
070 K020300 Y
070 L010300 Y
070 L020300 N
070 M010300 N
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 Y
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 Y
070 R020300 N
071 A000300 55368
071 B000300 55292
071 C000300 41727
071 D000300 133
072 A000300 12
072 B000300 2911
072 C000300 0
072 D000300 0
072 E000300 0
072 F000300 247
072 G000300 25
072 H000300 0
072 I000300 82
072 J000300 6
072 K000300 0
072 L000300 13
072 M000300 6
072 N000300 0
072 O000300 0
<PAGE> PAGE 18
072 P000300 0
072 Q000300 0
072 R000300 22
072 S000300 0
072 T000300 0
072 U000300 0
072 V000300 0
072 W000300 13
072 X000300 414
072 Y000300 16
072 Z000300 2513
072AA000300 0
072BB000300 857
072CC010300 0
072CC020300 1604
072DD010300 2513
072DD020300 0
072EE000300 0
073 A010300 0.5511
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 0
074 B000300 0
074 C000300 255
074 D000300 39042
074 E000300 0
074 F000300 0
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 0
074 K000300 0
074 L000300 273
074 M000300 0
074 N000300 39570
074 O000300 0
074 P000300 0
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 121
074 S000300 0
074 T000300 39449
074 U010300 4335
074 U020300 0
074 V010300 9.10
074 V020300 0.00
074 W000300 0.0000
074 X000300 2484
<PAGE> PAGE 19
074 Y000300 0
075 A000300 0
075 B000300 42449
076 000300 0.00
080 A000300 UNITED PACIFIC INSURANCE COMPANY
080 C000300 3000
081 A000300 N
081 B000300 0
082 A000300 N
082 B000300 0
030 A001700 0
030 B001700 0.00
030 C001700 0.00
075 A003200 0
075 B003200 0
076 003200 0.00
SIGNATURE DAVID F. HILL
TITLE PRESIDENT
Report of Independent Auditors
To the Shareholders and Board of Trustees of SAFECO Taxable
Bond Trust
In planning and performing our audit of the financial
statements of SAFECO Taxable Bond Trust (comprising,
respectively, the SAFECO Intermediate-Term U.S. Treasury Fund,
the SAFECO GNMA Fund, and the SAFECO High-Yield Bond 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 SAFECO Taxable Bond Trust 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 in the
United States. 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 Trustees of SAFECO Taxable Bond 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.
/s/ ERNST & YOUNG LLP
Seattle, Washington
February 4, 2000
Shareholder Meeting (Unaudited)
A joint special meeting of the Funds' shareholders was held on March 30, 1999,
at which time the shareholders voted to approve changes to the Funds'
fundamental investment policies and approved an amended and restated investment
advisory contract, including a change in the fee structure. Shareholders
elected the Board of Trustees and ratified the selection of
Ernst & Young LLP as independent auditiors. The results of that meeting are
presented below.
(In Thousands)
Proposal Trust/Fund For Against Abstain
Elect Boh A. Dickey
Taxable Bond Trust 9720 505
Tax-Exempt Bond Trust 33179 1204
Money Market Trust 170,319 6,116
Managed Bond Trust 625 12
Elect Barbara J. Dingfield
Taxable Bond Trust 9,687 538
Tax-Exempt Bond Trust 33,206 1,177
Money Market Trust 169,394 7,041
Managed Bond Trust 625 12
Elect David F. Hill
Taxable Bond Trust 9,725 500
Tax-Exempt Bond Trust 33,202 1,181
Money Market Trust 170,290 6,145
Managed Bond Trust 625 12
Elect Richard W. Hubbard
Taxable Bond Trust 9,710 515
Tax-Exempt Bond Trust 33,205 1,178
Money Market Trust 169,808 6,627
Managed Bond Trust 625 12
Elect Richard E. Lundgren
Taxable Bond Trust 9,715 510
Tax-Exempt Bond Trust 33,232 1,151
Money Market Trust 169,870 6,565
Managed Bond Trust 625 12
Elect Larry L. Pinnt
Taxable Bond Trust 9,716 509
Tax-Exempt Bond Trust 33,224 1,159
Money Market Trust 169,699 6,736
Managed Bond Trust 625 12
Elect John W. Schneider
Taxable Bond Trust 9,717 508
Tax-Exempt Bond Trust 33,202 1,182
Money Market Trust 169,829 6,606
Managed Bond Trust 625 12
Selection of Ernst & Young LLP
Taxable Bond Trust 9,790 147 287
Tax-Exempt Bond Trust 33,312 470 601
Money Market Trust 168,894 1,937 5,604
Managed Bond Trust 624 12 1
Fundamental Investment Policies
Intmediate-Term U.S. Treasury 1,275 25 77
GNMA Fund 2,426 132 294
High-Yield Bond Fund 4,389 275 1,333
Managed Bond Fund 599 12 27
Municipal Bond Fund 20,932 1,908 2,648
California Tax-Free Muni 4,549 188 699
Washington State Muni 394 260 47
Intermediate-Term Muni 799 241 40
Insured Municipal Bond Fund 1,317 208 153
Money Market Fund 113,201 5,139 7,603
Tax-Free Money Market Fund 46,632 1,920 1,940
Investment Advisory Contract
Intmediate-Term U.S. Treasury 1,214 84 79
GNMA Fund 2,401 151 299
High-Yield Bond Fund 4,226 466 1,305
Managed Bond Fund 594 18 25
Municipal Bond Fund 19,449 3,305 2,734
California Tax-Free Muni 4,406 254 776
Washington State Muni 401 270 31
Intermediate-Term Muni 770 251 59
Insured Municipal Bond Fund 1,307 218 154
Money Market Fund 110,460 7,606 7,877
Tax-Free Money Market Fund 44,775 3,422 2,295
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000833045
<NAME> SAFECO TAXABLE BOND TRUST
<SERIES>
<NUMBER> 2
<NAME> SAFECO INTERMEDIATE-TERM U.S. TREASURY FUND No-Load Class
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> ANNUAL
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> DEC-31-1999
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 21,103
<INVESTMENTS-AT-VALUE> 20,551
<RECEIVABLES> 344
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 20,895
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 59
<TOTAL-LIABILITIES> 59
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 21,670
<SHARES-COMMON-STOCK> 1,912
<SHARES-COMMON-PRIOR> 2,240
<ACCUMULATED-NII-CURRENT> 1,157
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (282)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (552)
<NET-ASSETS> 19,092
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,376
<OTHER-INCOME> 0
<EXPENSES-NET> 191
<NET-INVESTMENT-INCOME> 1,157
<REALIZED-GAINS-CURRENT> (33)
<APPREC-INCREASE-CURRENT> (1,619)
<NET-CHANGE-FROM-OPS> (495)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,077)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 666
<NUMBER-OF-SHARES-REDEEMED> (1,059)
<SHARES-REINVESTED> 65
<NET-CHANGE-IN-ASSETS> (4,846)
<ACCUMULATED-NII-PRIOR> 1,045
<ACCUMULATED-GAINS-PRIOR> 4
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 113
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 228
<AVERAGE-NET-ASSETS> 20,627
<PER-SHARE-NAV-BEGIN> 10.74
<PER-SHARE-NII> 0.54
<PER-SHARE-GAIN-APPREC> (0.75)
<PER-SHARE-DIVIDEND> (0.54)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.99
<EXPENSE-RATIO> 0.93
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000833045
<NAME> SAFECO TAXABLE BOND TRUST
<SERIES>
<NUMBER> 2
<NAME> SAFECO INTERMEDIATE-TERM U.S. TREASURY FUND Class A
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> ANNUAL
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> DEC-31-1999
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 21,103
<INVESTMENTS-AT-VALUE> 20,551
<RECEIVABLES> 344
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 20,895
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 59
<TOTAL-LIABILITIES> 59
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 21,670
<SHARES-COMMON-STOCK> 96
<SHARES-COMMON-PRIOR> 77
<ACCUMULATED-NII-CURRENT> 1,157
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (282)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (552)
<NET-ASSETS> 958
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,376
<OTHER-INCOME> 0
<EXPENSES-NET> 11
<NET-INVESTMENT-INCOME> 1,157
<REALIZED-GAINS-CURRENT> (33)
<APPREC-INCREASE-CURRENT> (1,619)
<NET-CHANGE-FROM-OPS> (495)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (44)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 58
<NUMBER-OF-SHARES-REDEEMED> (43)
<SHARES-REINVESTED> 4
<NET-CHANGE-IN-ASSETS> (4,846)
<ACCUMULATED-NII-PRIOR> 1,045
<ACCUMULATED-GAINS-PRIOR> 4
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 13
<AVERAGE-NET-ASSETS> 896
<PER-SHARE-NAV-BEGIN> 10.75
<PER-SHARE-NII> 0.51
<PER-SHARE-GAIN-APPREC> (0.75)
<PER-SHARE-DIVIDEND> (0.51)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.00
<EXPENSE-RATIO> 1.21
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000833045
<NAME> SAFECO TAXABLE BOND TRUST
<SERIES>
<NUMBER> 2
<NAME> SAFECO INTERMEDIATE-TERM U.S. TREASURY FUND Class B
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> ANNUAL
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> DEC-31-1999
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 21,103
<INVESTMENTS-AT-VALUE> 20,551
<RECEIVABLES> 344
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 20,895
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 59
<TOTAL-LIABILITIES> 59
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 21,670
<SHARES-COMMON-STOCK> 78
<SHARES-COMMON-PRIOR> 73
<ACCUMULATED-NII-CURRENT> 1,157
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (282)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (552)
<NET-ASSETS> 786
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,376
<OTHER-INCOME> 0
<EXPENSES-NET> 17
<NET-INVESTMENT-INCOME> 1,157
<REALIZED-GAINS-CURRENT> (33)
<APPREC-INCREASE-CURRENT> (1,619)
<NET-CHANGE-FROM-OPS> (495)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (36)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 55
<NUMBER-OF-SHARES-REDEEMED> (53)
<SHARES-REINVESTED> 3
<NET-CHANGE-IN-ASSETS> (4,846)
<ACCUMULATED-NII-PRIOR> 1,045
<ACCUMULATED-GAINS-PRIOR> 4
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 20
<AVERAGE-NET-ASSETS> 860
<PER-SHARE-NAV-BEGIN> 10.74
<PER-SHARE-NII> 0.43
<PER-SHARE-GAIN-APPREC> (0.75)
<PER-SHARE-DIVIDEND> (0.43)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.99
<EXPENSE-RATIO> 1.96
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000833045
<NAME> SAFECO TAXABLE BOND TRUST
<SERIES>
<NUMBER> 1
<NAME> SAFECO HIGH YIELD BOND FUND No-Load CLass
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> ANNUAL
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> DEC-31-1999
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 78,293
<INVESTMENTS-AT-VALUE> 75,617
<RECEIVABLES> 1,616
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 77,233
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,047
<TOTAL-LIABILITIES> 1,047
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 81,028
<SHARES-COMMON-STOCK> 8,711
<SHARES-COMMON-PRIOR> 9,072
<ACCUMULATED-NII-CURRENT> 6,781
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2,166)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (2,676)
<NET-ASSETS> 73,004
<DIVIDEND-INCOME> 210
<INTEREST-INCOME> 7,373
<OTHER-INCOME> 0
<EXPENSES-NET> 740
<NET-INVESTMENT-INCOME> 6,781
<REALIZED-GAINS-CURRENT> (1,769)
<APPREC-INCREASE-CURRENT> (2,107)
<NET-CHANGE-FROM-OPS> 2,905
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (6,470)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7,351
<NUMBER-OF-SHARES-REDEEMED> (8,235)
<SHARES-REINVESTED> 523
<NET-CHANGE-IN-ASSETS> (7,855)
<ACCUMULATED-NII-PRIOR> 6,383
<ACCUMULATED-GAINS-PRIOR> (57)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 458
<INTEREST-EXPENSE> 13
<GROSS-EXPENSE> 773
<AVERAGE-NET-ASSETS> 77,853
<PER-SHARE-NAV-BEGIN> 8.78
<PER-SHARE-NII> 0.71
<PER-SHARE-GAIN-APPREC> (0.40)
<PER-SHARE-DIVIDEND> (0.71)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 8.38
<EXPENSE-RATIO> 0.95
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000833045
<NAME> SAFECO TAXABLE BOND TRUST
<SERIES>
<NUMBER> 1
<NAME> SAFECO HIGH YIELD BOND FUND Class A
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> ANNUAL
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> DEC-31-1999
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 78,293
<INVESTMENTS-AT-VALUE> 75,617
<RECEIVABLES> 1,616
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 77,233
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,047
<TOTAL-LIABILITIES> 1,047
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 81,028
<SHARES-COMMON-STOCK> 189
<SHARES-COMMON-PRIOR> 338
<ACCUMULATED-NII-CURRENT> 6,781
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2,166)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (2,676)
<NET-ASSETS> 1,583
<DIVIDEND-INCOME> 210
<INTEREST-INCOME> 7,373
<OTHER-INCOME> 0
<EXPENSES-NET> 26
<NET-INVESTMENT-INCOME> 6,781
<REALIZED-GAINS-CURRENT> (1,769)
<APPREC-INCREASE-CURRENT> (2,107)
<NET-CHANGE-FROM-OPS> 2,905
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (178)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 127
<NUMBER-OF-SHARES-REDEEMED> (290)
<SHARES-REINVESTED> 14
<NET-CHANGE-IN-ASSETS> (7,855)
<ACCUMULATED-NII-PRIOR> 6,383
<ACCUMULATED-GAINS-PRIOR> (57)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 13
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 30
<AVERAGE-NET-ASSETS> 2,212
<PER-SHARE-NAV-BEGIN> 8.78
<PER-SHARE-NII> 0.69
<PER-SHARE-GAIN-APPREC> 0.40
<PER-SHARE-DIVIDEND> (0.69)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 8.38
<EXPENSE-RATIO> 1.18
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000833045
<NAME> SAFECO TAXABLE BOND TRUST
<SERIES>
<NUMBER> 1
<NAME> SAFECO HIGH YIELD BOND FUND Class B
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> ANNUAL
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> DEC-31-1999
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 78,293
<INVESTMENTS-AT-VALUE> 75,617
<RECEIVABLES> 1,616
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 77,233
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,047
<TOTAL-LIABILITIES> 1,047
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 81,028
<SHARES-COMMON-STOCK> 191
<SHARES-COMMON-PRIOR> 157
<ACCUMULATED-NII-CURRENT> 6,781
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2,166)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (2,676)
<NET-ASSETS> 1,599
<DIVIDEND-INCOME> 210
<INTEREST-INCOME> 7,373
<OTHER-INCOME> 0
<EXPENSES-NET> 36
<NET-INVESTMENT-INCOME> 6,781
<REALIZED-GAINS-CURRENT> (1,769)
<APPREC-INCREASE-CURRENT> (2,107)
<NET-CHANGE-FROM-OPS> 2,905
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (133)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 129
<NUMBER-OF-SHARES-REDEEMED> (110)
<SHARES-REINVESTED> 15
<NET-CHANGE-IN-ASSETS> (7,855)
<ACCUMULATED-NII-PRIOR> 6,383
<ACCUMULATED-GAINS-PRIOR> (57)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 11
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 40
<AVERAGE-NET-ASSETS> 1,814
<PER-SHARE-NAV-BEGIN> 8.78
<PER-SHARE-NII> 0.63
<PER-SHARE-GAIN-APPREC> (0.40)
<PER-SHARE-DIVIDEND> (0.63)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 8.38
<EXPENSE-RATIO> 1.97
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000833045
<NAME> SAFECO TAXABLE BOND TRUST
<SERIES>
<NUMBER> 3
<NAME> SAFECO GNMA FUND
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> ANNUAL
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> DEC-31-1999
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 40,243
<INVESTMENTS-AT-VALUE> 39,297
<RECEIVABLES> 273
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 39,570
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 121
<TOTAL-LIABILITIES> 121
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 42,836
<SHARES-COMMON-STOCK> 4,335
<SHARES-COMMON-PRIOR> 4,371
<ACCUMULATED-NII-CURRENT> 2,513
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2,441)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (946)
<NET-ASSETS> 39,449
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,911
<OTHER-INCOME> 0
<EXPENSES-NET> 398
<NET-INVESTMENT-INCOME> 2,513
<REALIZED-GAINS-CURRENT> (857)
<APPREC-INCREASE-CURRENT> (1,604)
<NET-CHANGE-FROM-OPS> 52
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,513)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,131
<NUMBER-OF-SHARES-REDEEMED> (1,367)
<SHARES-REINVESTED> 200
<NET-CHANGE-IN-ASSETS> (2,696)
<ACCUMULATED-NII-PRIOR> 2,333
<ACCUMULATED-GAINS-PRIOR> 986
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 247
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 414
<AVERAGE-NET-ASSETS> 42,449
<PER-SHARE-NAV-BEGIN> 9.64
<PER-SHARE-NII> 0.55
<PER-SHARE-GAIN-APPREC> (0.54)
<PER-SHARE-DIVIDEND> (0.55)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.10
<EXPENSE-RATIO> 0.94
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.00
</TABLE>