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.

Transamerica Large Cap Value I2 (TWQZX): 0.63% expense ratio and 0.59% management fee. TWQZX 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. With annual returns of 12.09% over the last five years, this fund is a winner.

Fidelity Adv Semiconductors Z (FIKGX): 0.57% expense ratio and 0.55% management fee. FIKGX is part of the Sector - Tech mutual fund category that invests in technology and lets investors own a stake in a notoriously volatile sector, but with a much more diversified approach. With yearly returns of 30.05% over the last five years, FIKGX is an effectively diversified fund with a long reputation of solidly positive performance.

Archer Multi Cap (ALSMX Quick QuoteALSMX - Free Report) is an attractive large-cap allocation. ALSMX is a Large Cap Growth option; these mutual funds purchase stakes in numerous large U.S. companies that are expected to develop and grow at a faster rate than other large-cap stocks. ALSMX has an expense ratio of 0.95%, management fee of 0.5%, and annual returns of 10.07% 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.