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.

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

FMI Common Stock Fund (FMIMX Quick QuoteFMIMX - Free Report) : 0.99% expense ratio and 0.82% management fee. FMIMX is a Mid Cap Blend mutual fund that typically features a portfolio filled with stocks of various sizes and styles; it allows for a diversification strategy focusing on companies with market caps between $2 billion and $10 billion. With annual returns of 10.83% over the last five years, this fund is a winner.

T. Rowe Price US Equity Research (PRCOX Quick QuotePRCOX - Free Report) is a stand out amongst its peers. PRCOX 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. With five-year annualized performance of 12.59%, expense ratio of 0.45% and management fee of 0.33%, this diversified fund is an attractive buy with a strong history of performance.

Eaton Vance Atlanta Cap Focus Growth A (EAALX Quick QuoteEAALX - Free Report) . Expense ratio: 1.04%. Management fee: 0.65%. Five year annual return: 15.48%. EAALX 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.