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.

MFS Mass Investors Growth Stock R3 (MIGHX Quick QuoteMIGHX - Free Report) : 0.72% expense ratio and 0.33% management fee. MIGHX is a part of the Large Cap Growth mutual fund category, which invest in many large U.S. companies that are expected to grow much faster compared to other large-cap stocks. With annual returns of 14.76% over the last five years, this fund is a winner.

MassMutual Select Small Cap Growth Equity R5 (MSGSX Quick QuoteMSGSX - Free Report) : 0.96% expense ratio and 0.8% management fee. MSGSX is a Small Cap Growth mutual fund and tends to feature small companies in up-and-coming industries and markets. MSGSX, with annual returns of 10.49% over the last five years, is a well-diversified fund with a long track record of success.

AQR Small Cap Multi-Style N (QSMNX Quick QuoteQSMNX - Free Report) : 0.85% expense ratio and 0.45% management fee. QSMNX is a Small Cap Blend mutual fund, allowing investors a way to diversify their funds among various types of small-cap stocks. With a five-year annual return of 11.15%, 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.