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 easiest way to judge a mutual fund's quality over time is by analyzing its performance, diversification, and fees. Using the Zacks Mutual Fund Rank of over 19,000 mutual funds, we've identified three outstanding mutual funds that are ideally suited to help long-term investors pursue and achieve their retirement investing goals.

Let's learn about some of Zacks' highest ranked mutual funds with low fees you may want to consider.

Fidelity Advisor Semiconductors M (FELTX Quick QuoteFELTX - Free Report) : 1.28% expense ratio and 0.52% management fee. FELTX is a Sector - Tech mutual fund, allowing investors to own a stake in a notoriously volatile sector with a much more diversified approach. FELTX has achieved five-year annual returns of an astounding 27.23%.

JPMorgan Growth Advantage I (JGASX Quick QuoteJGASX - Free Report) is a stand out amongst its peers. JGASX 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 five-year annualized performance of 15.56%, expense ratio of 0.79% and management fee of 0.55%, this diversified fund is an attractive buy with a strong history of performance.

Deutsche Latin America Fund S (SLAFX Quick QuoteSLAFX - Free Report) is an attractive large-cap allocation. SLAFX is a Non US - Equity option, focusing their investments acoss emerging and developed markets, and can often extend across cap levels too. SLAFX has an expense ratio of 1.21%, management fee of 1%, and annual returns of 12.37% over the past five years.

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.