Decade of research on energy ETF as financial investments: bibliometric and cartographic evidence with a conceptual framework

Abstract Energy exchange-traded funds (ETFs) have emerged as significant financial instruments in shaping the global energy transition, guided by the Principles of Responsible Investment. This study integrates the findings from the extant literature on energy ETFs using bibliometric (BA), cartographic (CA) and reflexive thematic analysis (RTA) to identify research gaps, synthesize core topics, and conceptualize energy ETFs as drivers of the Sustainable Development Goals (SDGs). We reviewed 131 papers retrieved from the Web of Science database, published between 2014 and 2024, using R Biblioshiny and VOSviewer. BA reveals remarkable growth in academic output since 2017, predominantly from the USA and other developed countries (59 articles), with Energy Economics as the leading journal (13 articles, 580 citations). CA identifies five prevailing research themes that have shaped the discourse: the connection between energy ETFs and commodity markets, the impact of shocks and spillovers, applications in portfolio management, the adoption of diverse research methodologies, and the alignment of energy ETFs with the sustainability agenda. The RTA develops a forward-looking conceptual framework and three testable research propositions anchored in stakeholder, institutional, and socio-technical transition theories, that link the drivers shaping the growth of energy ETFs with the underlying opportunities and their catalytic roles in achieving SDGs. The findings suggest that energy ETFs are a tool for fund managers and asset management companies to achieve portfolio diversification and gain exposure to volatile energy markets at a low cost. Policymakers can use energy ETF data to enhance tracking efficiency and gauge volatility, which are necessary for robust and efficient market performance. This study advocates that energy ETFs offer a critical impetus for responsible investing practices to meet evolving preferences and stimulate investments in sustainable finance.