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 easiest, most reliable way to judge a mutual fund's quality over time is by analyzing its performance, diversification, and fees. The Zacks Mutual Fund Rank, which covers over 19,000 mutual funds, has helped us identify three outstanding options that are perfect for any long-term investors' portfolios that is retirement-focused.

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

Voya Growth & Income Portfolio I (IIVGX Quick QuoteIIVGX - Free Report) : 0.67% expense ratio and 0.6% management fee. IIVGX is a Large Cap Blend fund, targeting companies with market caps of over $10 billion. These funds offer investors a stability, and are perfect for people with a "buy and hold" mindset. With annual returns of 11.96% over the last five years, this fund is a winner.

Dreyfus Strategic Value I (DRGVX Quick QuoteDRGVX - Free Report) is a stand out amongst its peers. DRGVX 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 five-year annualized performance of 11.22%, expense ratio of 0.68% and management fee of 0.6%, this diversified fund is an attractive buy with a strong history of performance.

JPMorgan Growth Advantage A (VHIAX Quick QuoteVHIAX - Free Report) : 1.04% expense ratio and 0.55% management fee. VHIAX is a Large Cap Growth mutual fund, and these funds invest in many large U.S. firms that are projected to grow at a faster rate than their large-cap peers. With a five-year annual return of 14.15%, this fund is a well-diversified fund with a long track record of success.

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.