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.

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

Baron Focused Growth Fund Institutional (BFGIX Quick QuoteBFGIX - Free Report) : 1.06% expense ratio and 1% management fee. BFGIX is a Mid Cap Growth mutual fund. Mid Cap Growth funds pick stocks--usually companies with a market cap between $2 billion and $10 billion--that demonstrate extensive growth opportunities for investors compared to their peers. BFGIX has achieved five-year annual returns of an astounding 23.62%.

Amana Growth Investor (AMAGX Quick QuoteAMAGX - Free Report) . Expense ratio: 0.9%. Management fee: 0.62%. AMAGX 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. This fund has managed to produce a robust 14.19% over the last five years.

Fidelity Advisor Technology M (FATEX Quick QuoteFATEX - Free Report) : 1.21% expense ratio and 0.52% management fee. FATEX is a Sector - Tech mutual fund, allowing investors to own a stake in a notoriously volatile sector with a much more diversified approach. With a five-year annual return of 13.46%, 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.