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 break down some of the mutual funds with the top Zacks Mutual Fund Rank and the lowest fees.

Direxion Mo S&P 500 Bull 1.75X Inv (DXSLX Quick QuoteDXSLX - Free Report) : 1.32% expense ratio and 0.75% management fee. DXSLX is classified as an Allocation Balanced fund, which seeks to invest in a balance of asset types, like stocks, bonds, and cash, and including precious metals or commodities is not unusual. DXSLX has achieved five-year annual returns of an astounding 16.98%.

AQR Large Cap Momentum Style I (AMOMX Quick QuoteAMOMX - Free Report) . Expense ratio: 0.4%. Management fee: 0.25%. AMOMX 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. This fund has managed to produce a robust 12.18% over the last five years.

Victory Sycamore Established Value R6 (VEVRX Quick QuoteVEVRX - Free Report) : 0.54% expense ratio and 0.45% management fee. VEVRX is a Mid Cap Value mutual fund, which targets medium-sized companies with a market cap between $2 billion and $10 billion. With a five-year annual return of 11.18%, this fund is a well-diversified fund with a long track record of success.

We hope that your investment advisor (if you use one) has you invested in one or all of the top-ranked mutual funds we've reviewed. But if that isn't the case, it might be time to have a conversation or reconsider this vitally important relationship.