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

Janus Henderson Global Research A (JDWAX Quick QuoteJDWAX - Free Report) has a 1.11% expense ratio and 0.59% management fee. JDWAX is a Global - Equity mutual fund. These funds invest in large markets like the U.S., Europe, and Japan, and operate with very few geographical limitations With yearly returns of 15.43% over the last five years, this fund clearly wins.

Thornburg International Value R5 (TIVRX): 0.9% expense ratio and 0.77% management fee. TIVRX is a Non US - Equity fund. Many of these funds like to allocate across emerging and developed markets, and will often focus on all cap levels. TIVRX, with annual returns of 12.58% over the last five years, is a well-diversified fund with a long track record of success.

American Funds AMCAP R3 (RAFCX). Expense ratio: 0.98%. Management fee: 0.29%. Five year annual return: 12.11%. RAFCX 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.

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.