Investing in mutual funds for retirement is never too late. And the Zacks Mutual Fund Rank can be an excellent tool for investors looking to invest in the best funds.

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.

Here are the funds that have achieved the Zacks Mutual Fund Rank #1 (Strong Buy) and have low fees.

If you are looking to diversify your portfolio, consider Hartford Stock HLS IA (HSTAX Quick QuoteHSTAX - Free Report) . HSTAX 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. This fund is a winner, boasting an expense ratio of 0.51%, management fee of 0.48%, and a five-year annualized return track record of 12.26%.

Jensen Quality Growth Fund J (JENSX Quick QuoteJENSX - Free Report) : 0.81% expense ratio and 0.48% management fee. JENSX 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. JENSX, with annual returns of 11.5% over the last five years, is a well-diversified fund with a long track record of success.

Oppenheimer Discovery Y (ODIYX Quick QuoteODIYX - Free Report) : 0.76% expense ratio and 0.59% management fee. ODIYX is a Small Cap Growth mutual fund building their portfolio around stocks with market caps under $2 billion and large growth opportunities. With a five-year annual return of 11.81%, 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.