XACT Bear is a leveraged inverse exchange-traded fund designed to achieve 150% of the opposite daily movement of the OMXS30 Index, which includes the 30 most-traded stocks on the Stockholm Stock Exchange. To accomplish this, the fund's portfolio consists of liquid assets and sold OMXS30 futures contracts that total about 150% of the fund’s value. Each day, the fund adjusts its futures positions to maintain this -150% exposure, enabling it to gain value when the OMXS30 Index decreases.