The funds in our "Magnificent Retirement Mutual Funds" list are among the best managed and best performing mutual funds available. If you are just finding out about our Top-Ranked Funds list, we welcome you!

How can you tell a good mutual fund from a bad one? It's pretty basic: if the fund is diversified, has low fees, and shows strong performance, it's a keeper. Of course, there's a wide range, but using our Zacks Rank, we've found three mutual funds that would be great additions to any long-term retirement investors' portfolios.

Let's learn about some of Zacks' highest ranked mutual funds with low fees you may want to consider.

BMO Large-Cap Growth Fund I has a 0.54% expense ratio and 0.35% management fee. MLCIX is a Large Cap Growth option; these mutual funds purchase stakes in numerous large U.S. companies that are expected to develop and grow at a faster rate than other large-cap stocks. With yearly returns of 13.1% over the last five years, this fund clearly wins.

Franklin Gold & Precious Metals Adviser (FGADX Quick QuoteFGADX - Free Report) . Expense ratio: 0.69%. Management fee: 0.48%. FGADX is classified as a Sector - Precious Metal fund, and these mutual funds invest in stocks with a focus on the mining and production of precious metals like gold, silver, platinum, and palladium. This fund has managed to produce a robust 12.83% over the last five years.

MSIF Global Quality Portfolio IS (MGQSX Quick QuoteMGQSX - Free Report) . Expense ratio: 0.85%. Management fee: 0.7%. Five year annual return: 11.76%. MGQSX is a Global - Equity mutual fund. These funds invest in large markets like the U.S., Europe, and Japan, and operate with very few geographical limitations.

These examples highlight the fact that there are some astonishingly good mutual funds out there. If your advisor has you in the good ones, bravo! If not, you may need to have a talk.

Do You Know the Top 9 Retirement Investing Mistakes?

Investing in underperforming mutual funds is just one of the key errors that can derail your retirement plans.

To learn more, read our just-released report: 9 Retirement Mistakes You Need to Avoid.