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.

Amana Growth Fund Institutional (AMIGX Quick QuoteAMIGX - Free Report) : 0.64% expense ratio and 0.62% management fee. AMIGX 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. AMIGX has achieved five-year annual returns of an astounding 14.46%.

Fidelity Advisor Semiconductors I (FELIX Quick QuoteFELIX - Free Report) . Expense ratio: 0.74%. Management fee: 0.52%. With a much more diversified approach, FELIX--part of the Sector - Tech mutual fund category--gives investors a way to own a stake in the notoriously risky tech sector. This fund has managed to produce a robust 15.59% over the last five years.

Neuberger Berman Small Cap Growth Trust (NBMOX Quick QuoteNBMOX - Free Report) : 1.25% expense ratio and 1.23% management fee. NBMOX is a Small Cap Growth mutual fund and tends to feature small companies in up-and-coming industries and markets. The fund is mainly invested in equities, has a long reputation of salutary performance, and has yearly returns of 11.76% over the last 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.