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.

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 take a look at some of our top-ranked mutual funds with the lowest fees.

If you are looking to diversify your portfolio, consider Franklin Utilities R (FRURX Quick QuoteFRURX - Free Report) . Sector - Utilities funds like FRURX focus their investments on firms that provide essential daily services to millions of people like electric power, gas distribution, and water supply. This fund is a winner, boasting an expense ratio of 1.06%, management fee of 0.46%, and a five-year annualized return track record of 8.63%.

JPMorgan Developed Intl Value L (JNUSX). Expense ratio: 0.7%. Management fee: 0.55%. JNUSX is a Non US - Equity option, focusing their investments acoss emerging and developed markets, and can often extend across cap levels too. This fund has managed to produce a robust 16.91% over the last five years.

T.Rowe Price Integrated Glb Eq (TQGEX) is an attractive large-cap allocation. TQGEX is a Global - Equity mutual fund. These funds invest in large markets like the U.S., Europe, and Japan, and operate with very few geographical limitations TQGEX has an expense ratio of 0.74%, management fee of 0.53%, and annual returns of 11.9% over the past five years.

We hope that your investment advisor (if you use one) has you invested in one or all of the top-ranked mutual funds we've reviewed. But if that isn't the case, it might be time to have a conversation or reconsider this vitally important relationship.