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 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 take a look at some of our top-ranked mutual funds with the lowest fees.

If you are looking to diversify your portfolio, consider Janus Henderson Research S (JRASX Quick QuoteJRASX - Free Report) . JRASX is a part of the Large Cap Growth mutual fund category, which invest in many large U.S. companies that are expected to grow much faster compared to other large-cap stocks. This fund is a winner, boasting an expense ratio of 1%, management fee of 0.48%, and a five-year annualized return track record of 14.14%.

Fidelity Growth Strategies Fund K (FAGKX Quick QuoteFAGKX - Free Report) : 0.63% expense ratio and 0.56% management fee. FAGKX is an All Cap Growth mutual fund investing in a wide variety of equities, no matter the size of the company and as long as the firm exhibits growth characteristics. With yearly returns of 11.25% over the last five years, FAGKX is an effectively diversified fund with a long reputation of solidly positive performance.

AMG Managers Fairpointe Mid Cap N (CHTTX Quick QuoteCHTTX - Free Report) is an attractive large-cap allocation. CHTTX is a Mid Cap Blend mutual fund, and usually features a portfolio with stocks of various styles and sizes, allowing for diversification within a strategy that focuses on mid cap companies. CHTTX has an expense ratio of 1.1%, management fee of 0.56%, and annual returns of 8.97% over the past five years.

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.