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 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 take a look at some of our top-ranked mutual funds with the lowest fees.

Fidelity Select Health Care Services (FSHCX Quick QuoteFSHCX - Free Report) : 0.71% expense ratio and 0.52% management fee. FSHCX is part of the Sector - Health category, offering investors a focus on the healthcare industry, one of the largest sectors in the American economy. With annual returns of 13.72% over the last five years, this fund is a winner.

Neuberger Berman Guardian Trust (NBGTX Quick QuoteNBGTX - Free Report) is a stand out amongst its peers. NBGTX is a Large Cap Value mutual fund, which invests in stocks with a market cap of $10 billion of more, but whose share prices do not reflect their intrinsic value. With five-year annualized performance of 10.33%, expense ratio of 1.03% and management fee of 0.88%, this diversified fund is an attractive buy with a strong history of performance.

Ivy Large Cap Growth Y (WLGYX Quick QuoteWLGYX - Free Report) . Expense ratio: 1%. Management fee: 0.6%. Five year annual return: 11.58%. WLGYX 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.

There you have it. If your financial advisor had you put your money into any of our top-ranked funds, then they've got you covered. If not, you may need to talk.