Most investors focus on owning stocks with the expectation that they'll rise in value. During bull markets, that strategy works very well. When bear markets strike, however, owning stocks is often painful.
Bear funds can help those who want to make money when stocks fall because they're designed to have their prices rise when the market declines. The market has done so well recently, and bear funds have gotten crushed lately, but investors stand ready to reap rewards if the market turns.
Bear fund
Source: Fool.com