The rates that utilities charge customers and the profits the providers of water and power can make are highly regulated, but utilities’ stock gains have pushed the funds that focus on them to the No. 3 performing sector in the past 15 years as well as year to date. A $10,000 investment in the average utility mutual fund on Sept. 30, 1999, would have grown to $28,940 by Nov. 10 this year, according to Morningstar Inc data.