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 Global Life Science D (JNGLX Quick QuoteJNGLX - Free Report) has a 0.8% expense ratio and 0.64% management fee. JNGLX is part of the Sector - Health category, offering investors a focus on the healthcare industry, one of the largest sectors in the American economy. With yearly returns of 8.73% over the last five years, this fund clearly wins.

Voya Corporate Leaders Trust Fund B (LEXCX Quick QuoteLEXCX - Free Report) : 0.49% expense ratio and 0% management fee. LEXCX 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. LEXCX, with annual returns of 10.69% over the last five years, is a well-diversified fund with a long track record of success.

Putnam Equity Income R (PEQRX Quick QuotePEQRX - Free Report) : 0.57% expense ratio and 0.47% management fee. PEQRX is a part of the Large Cap Value category, and invests in equities with a market capitalization of $10 billion or more, but whose share prices do not reflect their intrinsic value. The fund is mainly invested in equities, has a long reputation of salutary performance, and has yearly returns of 9.21% over the last five years.

We hope that your investment advisor (if you use one) has you invested in one or all of the top-ranked mutual funds we've reviewed. But if that isn't the case, it might be time to have a conversation or reconsider this vitally important relationship.