There is no asset free of extreme tail losses. If an asset produces any sort of return, it is going to be exposed to some sort of tail event.
One can try to find uncorrelated assets so that those losses don’t occur at the same time. However, correlations between asset returns are not stable – they change over time and behave quite erratically during market panics.
In the end, to be an investor is to accept the fact that large losses occasionally happen.