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 break down some of the mutual funds with the top Zacks Mutual Fund Rank and the lowest fees.

Natixis Vaughan Nelson Mid Cap N (VNVNX) has a 0.85% expense ratio and 0.75% management fee. VNVNX 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 10.65% over the last five years, this fund clearly wins.

Vanguard Capital Opportunity Inv (VHCOX): 0.4% expense ratio and 0.39% management fee. VHCOX is a Large Cap Growth mutual fund, and these funds invest in many large U.S. firms that are projected to grow at a faster rate than their large-cap peers. With yearly returns of 12.82% over the last five years, VHCOX is an effectively diversified fund with a long reputation of solidly positive performance.

JPMorgan Developed Intl Value L (JNUSX Quick QuoteJNUSX - Free Report) : 0.7% expense ratio and 0.55% management fee. JNUSX is a Non US - Equity option, focusing their investments acoss emerging and developed markets, and can often extend across cap levels too. With a five-year annual return of 16.97%, this fund is a well-diversified fund with a long track record of success.

These examples highlight the fact that there are some astonishingly good mutual funds out there. If your advisor has you in the good ones, bravo! If not, you may need to have a talk.