The outbreak of 2007 financial crisis drives more and more economists to pay attention to the anti risk ability of financial products and they are trying to promote the smooth development of finance and economy by strengthening the anti risk ability of financial products.From the perspective of bubble analysis，this paper makes a study of the anti risk ability of financial products by selecting the index type fund typical of a certain financial market and conducts an analysis of the above anti risk ability and then gives an explanation of the relevance and connotation in terms of financial market bubbles theoretically and empirically by introducing the LPPL Model of financial physics.Empirically，on the basis of Shenzhen 100 Fund and Shenzhen 100 Index，we make a measurement of anti risk ability by using LPPL Model under the measurement of bubble classification.The research conclusion shows that Chinas anti risk ability of financial market is relatively weak and there is a possibility of new bubble breaking whether in the market index or in the index fund.Compared with the market index，the index type fund manifests itself in a various bubble forms and its anti risk ability is relatively strong.From the comparison of bubble breaking buffer period，the anti risk ability of Chinas index type fund is better than that of market index.