It is never too late to invest in mutual funds for retirement. As such, if you plan to invest in some of the best funds, the Zacks Mutual Fund Rank can provide you with valuable guidance.

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.

Let's take a look at some of our top-ranked mutual funds with the lowest fees.

Hood River Small Cap Growth Institutional (HRSMX Quick QuoteHRSMX - Free Report) has a 1.08% expense ratio and 0.9% management fee. HRSMX is a Small Cap Growth mutual fund building their portfolio around stocks with market caps under $2 billion and large growth opportunities. With yearly returns of 11.45% over the last five years, this fund clearly wins.

Janus Henderson Enterprise T (JAENX Quick QuoteJAENX - Free Report) : 0.9% expense ratio and 0.64% management fee. JAENX is a Mid Cap Growth mutual fund. These funds aim to target companies with a market capitalization between $2 billion and $10 billion that are also expected to exhibit more extensive growth opportunities for investors than their peers. With yearly returns of 10.4% over the last five years, JAENX is an effectively diversified fund with a long reputation of solidly positive performance.

T. Rowe Price Science & Technology Fund (PRSCX Quick QuotePRSCX - Free Report) is an attractive large-cap allocation. With a much more diversified approach, PRSCX--part of the Sector - Tech mutual fund category--gives investors a way to own a stake in the notoriously risky tech sector. PRSCX has an expense ratio of 0.84%, management fee of 0.63%, and annual returns of 10.03% 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.