<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000869365
<NAME> SCHWAB INVESTMENTS
<SERIES>
<NUMBER> 02
<NAME> SCHWAB S/T BOND MARKET INDEX FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> AUG-31-2000
<PERIOD-END> AUG-31-2000
<INVESTMENTS-AT-COST> 216623
<INVESTMENTS-AT-VALUE> 216206
<RECEIVABLES> 20290
<ASSETS-OTHER> 70158
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 306654
<PAYABLE-FOR-SECURITIES> 17346
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 70509
<TOTAL-LIABILITIES> 87855
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 231745
<SHARES-COMMON-STOCK> 22663
<SHARES-COMMON-PRIOR> 22580
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (66)
<ACCUMULATED-NET-GAINS> (12463)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (417)
<NET-ASSETS> 218799
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 13675
<OTHER-INCOME> 4
<EXPENSES-NET> (781)
<NET-INVESTMENT-INCOME> 12898
<REALIZED-GAINS-CURRENT> (2110)
<APPREC-INCREASE-CURRENT> 1937
<NET-CHANGE-FROM-OPS> 12725
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (12896)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8302
<NUMBER-OF-SHARES-REDEEMED> (9277)
<SHARES-REINVESTED> 1058
<NET-CHANGE-IN-ASSETS> 749
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (10353)
<OVERDISTRIB-NII-PRIOR> (68)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 705
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1487
<AVERAGE-NET-ASSETS> 218123
<PER-SHARE-NAV-BEGIN> 9.66
<PER-SHARE-NII> .57
<PER-SHARE-GAIN-APPREC> (.01)
<PER-SHARE-DIVIDEND> (.57)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.65
<EXPENSE-RATIO> .35<F1>
<FN>
<F1>Would have been 0.36% if certain non-routine expenses
(proxy fees) had been included.
</FN>
</TABLE>
