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 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.

If you are looking to diversify your portfolio, consider Fidelity Fund K (FFDKX Quick QuoteFFDKX - Free Report) . FFDKX 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 is a winner, boasting an expense ratio of 0.38%, management fee of 0.31%, and a five-year annualized return track record of 11.65%.

Commerce Growth Fund (CFGRX Quick QuoteCFGRX - Free Report) : 0.74% expense ratio and 0.4% management fee. CFGRX 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 yearly returns of 12.92% over the last five years, CFGRX is an effectively diversified fund with a long reputation of solidly positive performance.

JPMorgan Mid Cap Growth I (HLGEX Quick QuoteHLGEX - Free Report) : 0.89% expense ratio and 0.65% management fee. HLGEX 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. The fund is mainly invested in equities, has a long reputation of salutary performance, and has yearly returns of 10.47% over the last five years.

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.