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.

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 break down some of the mutual funds with the top Zacks Mutual Fund Rank and the lowest fees.

DFA US Hi Relatv Profitability Inst (DURPX Quick QuoteDURPX - Free Report) has a 0.23% expense ratio and 0.19% management fee. DURPX is a Large Cap Blend fund, targeting companies with market caps of over $10 billion. These funds offer investors a stability, and are perfect for people with a "buy and hold" mindset. With yearly returns of 10.36% over the last five years, this fund clearly wins.

Fidelity Advisor Series Equity Growth (FMFMX Quick QuoteFMFMX - Free Report) . Expense ratio: 0.01%. Management fee: 0%. FMFMX is a Large Cap Growth mutual fund, and these funds invest in many large U.S. firms that are projected to grow at a faster rate than their large-cap peers. This fund has managed to produce a robust 12.96% over the last five years.

Deutsche Science and Technology Institutional (KTCIX Quick QuoteKTCIX - Free Report) . Expense ratio: 0.69%. Management fee: 0.45%. Five year annual return: 10.36%. With a much more diversified approach, KTCIX--part of the Sector - Tech mutual fund category--gives investors a way to own a stake in the notoriously risky tech sector.

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.