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

AQR Long-Short Equity Fund I (QLEIX): 1.3% expense ratio and 1.1% management fee. QLEIX is a Long Short - Equity option. These funds' investment strategy consists of minimizing overall market exposure, while at the same time taking long positions in equities that are expected to appreciate and short positions in equities that are projected to decline. QLEIX has achieved five-year annual returns of an astounding 24.72%.

T. Rowe Price International Value Equity (TRIGX). Expense ratio: 0.85%. Management fee: 0.63%. TRIGX is a part of the Non US - Equity fund category, many of which will focus across all cap levels, and will typically allocate their investments between emerging and developed markets. This fund has managed to produce a robust 15.01% over the last five years.

MFS Low Volatility Global Equity R6 (MVGNX Quick QuoteMVGNX - Free Report) : 0.65% expense ratio and 0.55% management fee. MVGNX is a Global - Equity mutual fund investing in bigger markets like the U.S., Europe, and Japan; these kinds of funds aren't limited by geography. With a five-year annual return of 10.67%, this fund is a well-diversified fund with a long track record of success.

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.