It is never too late to invest in mutual funds for retirement. As such, if you plan to invest in some of the best funds, the Zacks Mutual Fund Rank can provide you with valuable guidance.

The easiest, most reliable way to judge a mutual fund's quality over time is by analyzing its performance, diversification, and fees. The Zacks Mutual Fund Rank, which covers over 19,000 mutual funds, has helped us identify three outstanding options that are perfect for any long-term investors' portfolios that is retirement-focused.

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

If you are looking to diversify your portfolio, consider BNY Mellon Dynamic Value A (DAGVX Quick QuoteDAGVX - Free Report) . DAGVX is a Large Cap Value fund. These funds invest in stocks with a market cap of $10 billion of more, but whose share prices do not reflect their intrinsic value. This fund is a winner, boasting an expense ratio of 0.93%, management fee of 0.6%, and a five-year annualized return track record of 13.81%.

Thrivent Small Cap Stock S (TSCSX Quick QuoteTSCSX - Free Report) is a stand out amongst its peers. TSCSX is a Small Cap Blend mutual fund that usually targets companies with a market capitalization of less than $2 billion. With five-year annualized performance of 11.03%, expense ratio of 0.81% and management fee of 0.63%, this diversified fund is an attractive buy with a strong history of performance.

Putnam Global Health Care Y (PHSYX Quick QuotePHSYX - Free Report) . Expense ratio: 0.82%. Management fee: 0.62%. Five year annual return: 12.76%. PHSYX is a Sector - Health mutual fund, which give investors an opportunity to focus on healthcare, one of the largest sectors of the American economy.

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.