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):
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