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.

Here are the funds that have achieved the Zacks Mutual Fund Rank #1 (Strong Buy) and have low fees.

AB Large Cap Growth K (ALCKX Quick QuoteALCKX - Free Report) has a 0.97% expense ratio and 0.48% management fee. ALCKX 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 14.07% over the last five years, this fund clearly wins.

Fidelity Advisor Convertible Security Institutional (FICVX Quick QuoteFICVX - Free Report) : 0.74% expense ratio and 0.55% management fee. FICVX is a Convertible Bonds mutual fund, and these funds are unique in the fixed income world; these securities have components of both fixed income and equity, making them hybrid securities. With yearly returns of 11.59% over the last five years, FICVX is an effectively diversified fund with a long reputation of solidly positive performance.

Janus Henderson Global Technology Institutional (JGLTX Quick QuoteJGLTX - Free Report) . Expense ratio: 0.74%. Management fee: 0.64%. Five year annual return: 17.56%. JGLTX is a Sector - Tech mutual fund, allowing investors to own a stake in a notoriously volatile sector with a much more diversified approach.

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.