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 easiest, most reliable way to judge a mutual fund's quality over time is by analyzing its performance, diversification, and fees. The Zacks Mutual Fund Rank, which covers over 19,000 mutual funds, has helped us identify three outstanding options that are perfect for any long-term investors' portfolios that is retirement-focused.

Let's learn about some of Zacks' highest ranked mutual funds with low fees you may want to consider.

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. With annual returns of 11.5% over the last five years, this fund is a winner.

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. With yearly returns of 23.62% over the last five years, BFGIX is an effectively diversified fund with a long reputation of solidly positive performance.

Fidelity Select Semiconductors (FSELX Quick QuoteFSELX - Free Report) . Expense ratio: 0.67%. Management fee: 0.53%. Five year annual return: 15.84%. FSELX is a Sector - Tech mutual fund, allowing investors to own a stake in a notoriously volatile sector with a much more diversified approach.

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.