WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This Financial Data Schedule contains summary financial information
extracted from the semi-annual report filed on Form N-SAR and is qualified
in its entirety by reference to such semi-annual report on Form N-SAR.
</LEGEND>
<CIK> 0000902042
<NAME> U.S. GLOBAL ACCOLADE FUNDS
<SERIES>
<NAME> MEGATRENDS FUND
<NUMBER> 2
<MULTIPLIER> 1
<CURRENCY> US DOLLARS
<S> <C>
<PERIOD-TYPE> 06-MOS
<FISCAL-YEAR-END> OCT-31-2000
<PERIOD-START> NOV-01-1999
<PERIOD-END> APR-30-2000
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 14677017
<INVESTMENTS-AT-VALUE> 17306029
<RECEIVABLES> 1659188
<ASSETS-OTHER> 691
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 18965908
<PAYABLE-FOR-SECURITIES> 1297299
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 46263
<TOTAL-LIABILITIES> 1343562
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 13347788
<SHARES-COMMON-STOCK> 1527124
<SHARES-COMMON-PRIOR> 1621528
<ACCUMULATED-NII-CURRENT> (32154)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1677700
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2629012
<NET-ASSETS> 17622346
<DIVIDEND-INCOME> 70451
<INTEREST-INCOME> 89792
<OTHER-INCOME> 385
<EXPENSES-NET> (192782)
<NET-INVESTMENT-INCOME> (32154)
<REALIZED-GAINS-CURRENT> 1677408
<APPREC-INCREASE-CURRENT> 1316490
<NET-CHANGE-FROM-OPS> 2961744
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (1656853)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 33940
<NUMBER-OF-SHARES-REDEEMED> (289927)
<SHARES-REINVESTED> 161583
<NET-CHANGE-IN-ASSETS> 169614
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1657145
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 86538
<INTEREST-EXPENSE> 16
<GROSS-EXPENSE> 194525
<AVERAGE-NET-ASSETS> 17402206
<PER-SHARE-NAV-BEGIN> 10.76
<PER-SHARE-NII> (.02)
<PER-SHARE-GAIN-APPREC> 1.85
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (1.05)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.54
<EXPENSE-RATIO> 2.23
</TABLE>
