For reference concerning the ZIV:

My previous post on what could happen with these Inverse Volatility Funds (you may have to scroll to the bottom):

https://steemit.com/bitcoin/@haejin/would-you-like-to-beat-every-hedge-fund-manager-s-performance-here-is-a-method-on-how-the-secret-sauce#@dmwh/re-haejin-would-you-like-to-beat-every-hedge-fund-manager-s-performance-here-is-a-method-on-how-the-secret-sauce-20171127t043652242z

And what could happen if you have your entire portfolio invested in ZIV:

More information from ZeroHedge:
https://www.zerohedge.com/news/2018-02-06/vix-finally-went-bananas-morgan-stanleys-post-mortem-everything-happened