Investing in mutual funds for retirement is never too late. And the Zacks Mutual Fund Rank can be an excellent tool for investors looking to invest in the best funds.

The best way to shortlist great mutual funds is to ensure solid performance, diversification, and low fees. Some are better than others, but utilizing the Zacks Mutual Fund Rank, we have identified three mutual funds that could be solid additions to one's retirement portfolio.

Here are the funds that have achieved the Zacks Mutual Fund Rank #1 (Strong Buy) and have low fees.

Janus Henderson Enterprise S (JGRTX Quick QuoteJGRTX - Free Report) : 1.16% expense ratio and 0.64% management fee. JGRTX is a Mid Cap Growth mutual fund. Mid Cap Growth funds pick stocks--usually companies with a market cap between $2 billion and $10 billion--that demonstrate extensive growth opportunities for investors compared to their peers. With annual returns of 10.99% over the last five years, this fund is a winner.

Neuberger Berman Guardian Adviser (NBGUX Quick QuoteNBGUX - Free Report) : 1.17% expense ratio and 0.88% management fee. NBGUX is a Large Cap Value mutual fund, which invests in stocks with a market cap of $10 billion of more, but whose share prices do not reflect their intrinsic value. With yearly returns of 13.55% over the last five years, NBGUX is an effectively diversified fund with a long reputation of solidly positive performance.

VALIC Company I Mid Cap Strategic Growth (VMSGX Quick QuoteVMSGX - Free Report) is an attractive large-cap allocation. VMSGX 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. VMSGX has an expense ratio of 0.75%, management fee of 0.67%, and annual returns of 11.46% over the past five years.

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.