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 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 AQR Small Cap Multi-Style I (QSMLX). QSMLX is a Small Cap Blend mutual fund, allowing investors a way to diversify their funds among various types of small-cap stocks. This fund is a winner, boasting an expense ratio of 0.63%, management fee of 0.45%, and a five-year annualized return track record of 11.3%.

Fidelity Advisor Biotechnology A (FBTAX Quick QuoteFBTAX - Free Report) : 0.94% expense ratio and 0.67% management fee. FBTAX is a Sector - Health mutual fund, which give investors an opportunity to focus on healthcare, one of the largest sectors of the American economy. With yearly returns of 12.65% over the last five years, FBTAX is an effectively diversified fund with a long reputation of solidly positive performance.

Janus Henderson Intl Dividend D (HDDVX). Expense ratio: 0.92%. Management fee: 0.75%. Five year annual return: 13.55%. HDDVX 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.

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.