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 take a look at some of our top-ranked mutual funds with the lowest fees.

Fidelity Select Pharmaceuticals (FPHAX Quick QuoteFPHAX - Free Report) : 0.75% expense ratio and 0.52% management fee. FPHAX is classified as a Sector - Health fund. Healthcare is one of the biggest sectors of the American economy, and these kinds of mutual funds provide a great opportunity to invest in this industry. With annual returns of 9.83% over the last five years, this fund is a winner.

Neuberger Berman Guardian Investor (NGUAX Quick QuoteNGUAX - Free Report) : 0.83% expense ratio and 0.74% management fee. NGUAX is a part of the Large Cap Value category, and invests in equities with a market capitalization of $10 billion or more, but whose share prices do not reflect their intrinsic value. With yearly returns of 11.29% over the last five years, NGUAX is an effectively diversified fund with a long reputation of solidly positive performance.

JPMorgan Large Cap Growth A (OLGAX Quick QuoteOLGAX - Free Report) : 0.94% expense ratio and 0.45% management fee. OLGAX 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. With a five-year annual return of 12.7%, this fund is a well-diversified fund with a long track record of success.

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.