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.

Third Avenue Value Fund Institutional (TAVFX) has a 1.11% expense ratio and 0.9% management fee. TAVFX is a Small Cap Value mutual fund option, which typically invest in companies with market caps under $2 billion. With yearly returns of 18.19% over the last five years, this fund clearly wins.

MFS Blended Research Intl Eq R6 (BRXVX Quick QuoteBRXVX - Free Report) . Expense ratio: 0.41%. Management fee: 0.35%. BRXVX is a Non US - Equity fund. Many of these funds like to allocate across emerging and developed markets, and will often focus on all cap levels. This fund has managed to produce a robust 13.32% over the last five years.

American Funds New Economy R2E (RNNEX) is an attractive large-cap allocation. RNNEX is a Global - Equity mutual fund, which invests their assets in large markets, leveraging the global economy. RNNEX has an expense ratio of 1.19%, management fee of 0.36%, and annual returns of 11.17% 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.