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.

Amana Growth Investor (AMAGX Quick QuoteAMAGX - Free Report) has a 0.9% expense ratio and 0.62% management fee. AMAGX 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 12.99% over the last five years, this fund clearly wins.

Baird Midcap Institutional (BMDIX Quick QuoteBMDIX - Free Report) . Expense ratio: 0.81%. Management fee: 0.75%. BMDIX is a Mid Cap Growth mutual fund. These funds aim to target companies with a market capitalization between $2 billion and $10 billion that are also expected to exhibit more extensive growth opportunities for investors than their peers. This fund has managed to produce a robust 10.17% over the last five years.

Fidelity Advisor Semiconductors A (FELAX Quick QuoteFELAX - Free Report) is an attractive large-cap allocation. With a much more diversified approach, FELAX--part of the Sector - Tech mutual fund category--gives investors a way to own a stake in the notoriously risky tech sector. FELAX has an expense ratio of 1.01%, management fee of 0.52%, and annual returns of 16.44% 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.