<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 9
<NAME> AXP S&P 500 INDEX FUND CLASS E
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JAN-31-2001
<PERIOD-END> JUL-31-2000
<INVESTMENTS-AT-COST> 28521480
<INVESTMENTS-AT-VALUE> 29558081
<RECEIVABLES> 169998
<ASSETS-OTHER> 330372
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 30058451
<PAYABLE-FOR-SECURITIES> 366067
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 113949
<TOTAL-LIABILITIES> 480016
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 28279505
<SHARES-COMMON-STOCK> 2561038
<SHARES-COMMON-PRIOR> 1722656
<ACCUMULATED-NII-CURRENT> 85710
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 176619
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1036601
<NET-ASSETS> 14307351
<DIVIDEND-INCOME> 144095
<INTEREST-INCOME> 996
<OTHER-INCOME> 0
<EXPENSES-NET> 64886
<NET-INVESTMENT-INCOME> 80205
<REALIZED-GAINS-CURRENT> 188825
<APPREC-INCREASE-CURRENT> 305712
<NET-CHANGE-FROM-OPS> 574742
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1004238
<NUMBER-OF-SHARES-REDEEMED> 165856
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 13075445
<ACCUMULATED-NII-PRIOR> 5505
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 12209
<GROSS-ADVISORY-FEES> 29949
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 177694
<AVERAGE-NET-ASSETS> 12248746
<PER-SHARE-NAV-BEGIN> 5.42
<PER-SHARE-NII> .02
<PER-SHARE-GAIN-APPREC> .15
<PER-SHARE-DIVIDEND> .00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 5.59
<EXPENSE-RATIO> .39
</TABLE>
