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.

Janus Henderson Enterprise N (JDMNX Quick QuoteJDMNX - Free Report) has a 0.67% expense ratio and 0.64% management fee. JDMNX is a Mid Cap Growth mutual fund. These mutual funds choose companies with a stock market valuation between $2 billion and $10 billion. With yearly returns of 9.32% over the last five years, this fund clearly wins.

Vanguard Growth & Income Investor (VQNPX Quick QuoteVQNPX - Free Report) : 0.32% expense ratio and 0.3% management fee. VQNPX 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 yearly returns of 10.46% over the last five years, VQNPX is an effectively diversified fund with a long reputation of solidly positive performance.

Victory Sycamore Established Value R6 (VEVRX Quick QuoteVEVRX - Free Report) : 0.54% expense ratio and 0.45% management fee. VEVRX is a Mid Cap Value fund, which usually invests in companies with a stock market valuation between $2 billion and $10 billion. With a five-year annual return of 9.69%, 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.