In this work, we analyze the diversity gain region (DGR) of the single-antenna Rayleigh fading Z-Interference channel (ZIC). More specifically, we characterize the achievable DGR of the fixed-power split Han-Kobayashi (HK) approach under these assumptions. Our characterization comes in a closed form and demonstrates that the HK scheme with only a common message is a singular case, which achieves the best DGR among all HK schemes for certain multiplexing gains. Finally, we show that generalized time sharing, with variable rate and power assignments for the common and private messages, does not improve the achievable DGR.