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 way to judge a mutual fund's quality over time is by analyzing its performance, diversification, and fees. Using the Zacks Mutual Fund Rank of over 19,000 mutual funds, we've identified three outstanding mutual funds that are ideally suited to help long-term investors pursue and achieve their retirement investing goals.

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

Fidelity Advisor Semiconductors M (FELTX Quick QuoteFELTX - Free Report) has a 1.25% expense ratio and 0.52% management fee. FELTX is a Sector - Tech mutual fund, allowing investors to own a stake in a notoriously volatile sector with a much more diversified approach. With yearly returns of 20.17% over the last five years, this fund clearly wins.

T. Rowe Price Dividend Growth I (PDGIX Quick QuotePDGIX - Free Report) . Expense ratio: 0.5%. Management fee: 0.48%. PDGIX is part of the Large Cap Blend section, and these mutual funds most often invest in firms with a market capitalization of $10 billion or more. By investing in bigger companies, these funds offer more stability, and are often well-suited for investors with a "buy and hold" mindset. This fund has managed to produce a robust 10.87% over the last five years.

VALIC Company I Large Cap Growth Fund (VLCGX Quick QuoteVLCGX - Free Report) : 0.76% expense ratio and 0.64% management fee. VLCGX 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. With a five-year annual return of 11.72%, this fund is a well-diversified fund with a long track record of success.

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.