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

Dreyfus Fund (DREVX Quick QuoteDREVX - Free Report) has a 0.71% expense ratio and 0.65% management fee. DREVX 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 yearly returns of 10.94% over the last five years, this fund clearly wins.

Fidelity Advisor Global Commodity Stock I (FFGIX Quick QuoteFFGIX - Free Report) : 0.92% expense ratio and 0.67% management fee. FFGIX is a Global - Equity mutual fund. These funds invest in large markets like the U.S., Europe, and Japan, and operate with very few geographical limitations. With yearly returns of 10.62% over the last five years, FFGIX is an effectively diversified fund with a long reputation of solidly positive performance.

JPMorgan US Equity Fund L (JMUEX Quick QuoteJMUEX - Free Report) : 0.54% expense ratio and 0.4% management fee. JMUEX 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. The fund is mainly invested in equities, has a long reputation of salutary performance, and has yearly returns of 10.42% over the last five years.

We hope that your investment advisor (if you use one) has you invested in one or all of the top-ranked mutual funds we've reviewed. But if that isn't the case, it might be time to have a conversation or reconsider this vitally important relationship.