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

JPMorgan Developed Intl Value R2 (JPVZX Quick QuoteJPVZX - Free Report) has a 1.29% expense ratio and 0.55% management fee. JPVZX is a Non US - Equity option, focusing their investments acoss emerging and developed markets, and can often extend across cap levels too. With yearly returns of 14.82% over the last five years, this fund clearly wins.

American Funds Investor Company of America R3 (RICCX): 0.91% expense ratio and 0.23% management fee. RICCX 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 14.07% over the last five years, RICCX is an effectively diversified fund with a long reputation of solidly positive performance.

O'Shaughnessey MarketLeadersValue I (OFVIX): 0.52% expense ratio and 0.41% management fee. OFVIX is a Large Cap Value mutual fund, which invests in stocks with a market cap of $10 billion of more, but whose share prices do not reflect their intrinsic value. The fund is mainly invested in equities, has a long reputation of salutary performance, and has yearly returns of 13.06% over the last 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.