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 break down some of the mutual funds with the top Zacks Mutual Fund Rank and the lowest fees.

Fidelity Select Semiconductors (FSELX Quick QuoteFSELX - Free Report) has a 0.69% expense ratio and 0.53% management fee. FSELX 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 26.56% over the last five years, this fund clearly wins.

MFS Mass Investors Growth Stock R3 (MIGHX Quick QuoteMIGHX - Free Report) : 0.71% expense ratio and 0.33% management fee. MIGHX is a Large Cap Growth mutual fund, and these funds invest in many large U.S. firms that are projected to grow at a faster rate than their large-cap peers. With yearly returns of 11.26% over the last five years, MIGHX is an effectively diversified fund with a long reputation of solidly positive performance.

Oberweis Small-Cap Opportunities (OBSOX Quick QuoteOBSOX - Free Report) : 1.25% expense ratio and 0.8% management fee. OBSOX is a Small Cap Growth mutual fund building their portfolio around stocks with market caps under $2 billion and large growth opportunities. With a five-year annual return of 12.56%, 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.