<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from iShares Trust
financial statements at September 30, 2000
and is qualified in its entirety by reference
to such financial statements.


   <NUMBER> 15
   <NAME> Russell 2000 Value Index Fund

                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAR-31-2001
<PERIOD-END>                               SEP-30-2000
<INVESTMENTS-AT-COST>                      36,726,203
<INVESTMENTS-AT-VALUE>                     38,364,735
<RECEIVABLES>                                 127,442
<ASSETS-OTHER>                                      0
<OTHER-ITEMS-ASSETS>                                0
<TOTAL-ASSETS>                             38,492,177
<PAYABLE-FOR-SECURITIES>                      126,855
<SENIOR-LONG-TERM-DEBT>                             0
<OTHER-ITEMS-LIABILITIES>                     699,217
<TOTAL-LIABILITIES>                           826,072
<SENIOR-EQUITY>                                     0
<PAID-IN-CAPITAL-COMMON>                   35,933,824
<SHARES-COMMON-STOCK>                         350,000
<SHARES-COMMON-PRIOR>                               0
<ACCUMULATED-NII-CURRENT>                      42,625
<OVERDISTRIBUTION-NII>                              0
<ACCUMULATED-NET-GAINS>                        51,124
<OVERDISTRIBUTION-GAINS>                            0
<ACCUM-APPREC-OR-DEPREC>                    1,638,532
<NET-ASSETS>                               37,666,105
<DIVIDEND-INCOME>                             197,691
<INTEREST-INCOME>                               1,311
<OTHER-INCOME>                                      0
<EXPENSES-NET>                                 16,210
<NET-INVESTMENT-INCOME>                       182,792
<REALIZED-GAINS-CURRENT>                       51,124
<APPREC-INCREASE-CURRENT>                   1,638,532
<NET-CHANGE-FROM-OPS>                       1,872,448
<EQUALIZATION>                                      0
<DISTRIBUTIONS-OF-INCOME>                     140,167
<DISTRIBUTIONS-OF-GAINS>                            0
<DISTRIBUTIONS-OTHER>                               0
<NUMBER-OF-SHARES-SOLD>                       350,000
<NUMBER-OF-SHARES-REDEEMED>                         0
<SHARES-REINVESTED>                                 0
<NET-CHANGE-IN-ASSETS>                     37,666,105
<ACCUMULATED-NII-PRIOR>                             0
<ACCUMULATED-GAINS-PRIOR>                           0
<OVERDISTRIB-NII-PRIOR>                             0
<OVERDIST-NET-GAINS-PRIOR>                          0
<GROSS-ADVISORY-FEES>                          16,210
<INTEREST-EXPENSE>                                  0
<GROSS-EXPENSE>                                16,210
<AVERAGE-NET-ASSETS>                       35,357,420
<PER-SHARE-NAV-BEGIN>                          103.35
<PER-SHARE-NII>                                  0.52
<PER-SHARE-GAIN-APPREC>                          4.15
<PER-SHARE-DIVIDEND>                             0.00
<PER-SHARE-DISTRIBUTIONS>                        0.40
<RETURNS-OF-CAPITAL>                                0
<PER-SHARE-NAV-END>                            107.62
<EXPENSE-RATIO>                                  0.25