<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000869365
<NAME> SCHWAB INVESTMENTS
<SERIES>
<NUMBER> 05
<NAME> SCHWAB SHORT/INTERMEDIATE TAX-FREE BOND FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> AUG-31-2000
<PERIOD-END> AUG-31-2000
<INVESTMENTS-AT-COST> 75724
<INVESTMENTS-AT-VALUE> 75288
<RECEIVABLES> 1065
<ASSETS-OTHER> 19
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 76372
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 127
<TOTAL-LIABILITIES> 127
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 77254
<SHARES-COMMON-STOCK> 7560
<SHARES-COMMON-PRIOR> 8653
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (22)
<ACCUMULATED-NET-GAINS> (551)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (436)
<NET-ASSETS> 76245
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3753
<OTHER-INCOME> 0
<EXPENSES-NET> (406)
<NET-INVESTMENT-INCOME> 3347
<REALIZED-GAINS-CURRENT> (146)
<APPREC-INCREASE-CURRENT> 308
<NET-CHANGE-FROM-OPS> 3509
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3353)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3264
<NUMBER-OF-SHARES-REDEEMED> (4605)
<SHARES-REINVESTED> 248
<NET-CHANGE-IN-ASSETS> (10723)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (405)
<OVERDISTRIB-NII-PRIOR> (16)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 264
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 615
<AVERAGE-NET-ASSETS> 81507
<PER-SHARE-NAV-BEGIN> 10.05
<PER-SHARE-NII> .41
<PER-SHARE-GAIN-APPREC> .03
<PER-SHARE-DIVIDEND> (.41)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.08
<EXPENSE-RATIO> .49<F1>
<FN>
<F1>Would have been 0.50% if certain non-routine expenses
(proxy fees) had been included.
</FN>
</TABLE>
