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.

Goldman Sachs Tax Managed Equity IR (GQIRX) has a 0.76% expense ratio and 0.63% management fee. GQIRX is classified as a Large Cap Blend fund. More often than not, Large Cap Blend mutual funds invest in companies with a market cap of over $10 billion. Buying stakes in bigger companies offer these funds more stability, and are well-suited for investors with a "buy and hold" mindset. With yearly returns of 11.35% over the last five years, this fund clearly wins.

Invesco Small Cap Value R6 (SMVSX): 0.68% expense ratio and 0.63% management fee. SMVSX is a Small Cap Value fund, and these funds are known for investing in companies with market caps under $2 billion. SMVSX, with annual returns of 19.47% over the last five years, is a well-diversified fund with a long track record of success.

Causeway Global Value Investor (CGVVX Quick QuoteCGVVX - Free Report) : 1.1% expense ratio and 0.8% management fee. CGVVX is a Global - Equity mutual fund, which invests their assets in large markets, leveraging the global economy. With a five-year annual return of 11.72%, this fund is a well-diversified fund with a long track record of success.

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.