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

Fidelity Advisor Technology A (FADTX Quick QuoteFADTX - Free Report) has a 0.98% expense ratio and 0.52% management fee. FADTX 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 19.54% over the last five years, this fund clearly wins.

JPMorgan US Equity Fund L (JMUEX Quick QuoteJMUEX - Free Report) : 0.54% expense ratio and 0.4% management fee. JMUEX 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. JMUEX, with annual returns of 13.48% over the last five years, is a well-diversified fund with a long track record of success.

Pear Tree Quality Ordinary (USBOX Quick QuoteUSBOX - Free Report) . Expense ratio: 1.19%. Management fee: 1%. Five year annual return: 14.26%. USBOX is a Long Short - Equity option. These funds' investment strategy consists of minimizing overall market exposure, while at the same time taking long positions in equities that are expected to appreciate and short positions in equities that are projected to decline.

These examples highlight the fact that there are some astonishingly good mutual funds out there. If your advisor has you in the good ones, bravo! If not, you may need to have a talk.