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.

Here are the funds that have achieved the Zacks Mutual Fund Rank #1 (Strong Buy) and have low fees.

Great-West Loomis Sayles Small Cap Value (MXLSX Quick QuoteMXLSX - Free Report) : 1.09% expense ratio and 0.71% management fee. MXLSX is an All Cap Value mutual fund, which invests in small, medium, and large-cap companies, though they end up focusing on bigger firms due to percentage of assets. MXLSX has achieved five-year annual returns of an astounding 10.52%.

Voya Large Cap Growth W (IGOWX Quick QuoteIGOWX - Free Report) : 0.69% expense ratio and 0.51% management fee. IGOWX is a Large Cap Growth option; these mutual funds purchase stakes in numerous large U.S. companies that are expected to develop and grow at a faster rate than other large-cap stocks. With yearly returns of 14.8% over the last five years, IGOWX is an effectively diversified fund with a long reputation of solidly positive performance.

Fidelity Advisor Series Small Cap (FSSFX Quick QuoteFSSFX - Free Report) is an attractive large-cap allocation. FSSFX is a Small Cap Blend mutual fund, and usually targets stocks with market caps of less than $2 billion, letting investors diversify their funds among other kinds of small-cap equities. FSSFX has an expense ratio of 0.01%, management fee of 0%, and annual returns of 13.07% 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.