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.

How can you tell a good mutual fund from a bad one? It's pretty basic: if the fund is diversified, has low fees, and shows strong performance, it's a keeper. Of course, there's a wide range, but using the Zacks Mutual Fund Rank, we've found three mutual funds that would be great additions to any long-term investors' portfolios.

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

If you are looking to diversify your portfolio, consider Nuveen Global Equity Income I (NQGIX). NQGIX 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. This fund is a winner, boasting an expense ratio of 0.86%, management fee of 0.71%, and a five-year annualized return track record of 12.14%.

Fidelity Value Fund (FDVLX): 0.69% expense ratio and 0.67% management fee. FDVLX is a Mid Cap Value fund, which usually invests in companies with a stock market valuation between $2 billion and $10 billion With yearly returns of 12.4% over the last five years, FDVLX is an effectively diversified fund with a long reputation of solidly positive performance.

AQR Managed Futures Strategy I (AQMIX Quick QuoteAQMIX - Free Report) is an attractive large-cap allocation. AQMIX is classified as an Allocation Balanced fund, which seeks to invest in a balance of asset types, like stocks, bonds, and cash, and including precious metals or commodities is not unusual. AQMIX has an expense ratio of 1.23%, management fee of 1.05%, and annual returns of 13.76% 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.