Opportunity 2 : Zero Coupon Bonds Love Deflationary Bears ( ZROZ ) For the past decade or so, not many asset classes have garnered less respect than government bonds, as most investors have looked for an end to the downtrend in interest rates that has been occurring for the better part of 35 years. One ETF that owns 25+ year zeros is the ZROZ. ZROZ is highly volatile and not for everyone, but in a bear market, a little dab might do you!