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3 Great Mutual Fund Picks for Your Retirement

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There is never a wrong time to invest in mutual funds for retirement. So, if you're still looking for the best mutual funds, the Zacks Mutual Fund Rank can be a great guide.

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 retirement 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 DFA US Large Cap Growth Institutional (DUSLX - Free Report) . DUSLX 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. This fund is a winner, boasting an expense ratio of 0.18%, management fee of 0.15%, and a five-year annualized return track record of 10.71%.

Fidelity Select Semiconductors (FSELX - Free Report) : 0.68% expense ratio and 0.53% management fee. FSELX is a Sector - Tech mutual fund, allowing investors to own a stake in a notoriously volatile sector with a much more diversified approach. FSELX, with annual returns of 21.08% over the last five years, is a well-diversified fund with a long track record of success.

T. Rowe Price Dividend Growth Adviser (TADGX - Free Report) . Expense ratio: 0.9%. Management fee: 0.48%. Five year annual return: 10.43%. TADGX is part of the Large Cap Blend section, and these mutual funds most often invest in firms with a market capitalization of $10 billion or more. By investing in bigger companies, these funds offer more stability, and are often well-suited for investors with a "buy and hold" mindset.

These examples highlight the fact that there are some astonishingly good mutual funds out there. If your advisor has you in the good ones, bravo! If not, you may need to have a talk.

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