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.

Hotchkis and Wiley Global Value A (HWGAX Quick QuoteHWGAX - Free Report) : 1.2% expense ratio and 0.75% management fee. HWGAX is a Global - Equity mutual fund, which invests their assets in large markets, leveraging the global economy. HWGAX has achieved five-year annual returns of an astounding 9.13%.

JPMorgan Intrepid Growth Fund R5 (JGIRX Quick QuoteJGIRX - Free Report) is a stand out amongst its peers. JGIRX is a part of the Large Cap Growth mutual fund category, which invest in many large U.S. companies that are expected to grow much faster compared to other large-cap stocks. With five-year annualized performance of 16.94%, expense ratio of 0.44% and management fee of 0.3%, this diversified fund is an attractive buy with a strong history of performance.

ClearBridge Large Cap Value IS (LMLSX Quick QuoteLMLSX - Free Report) : 0.55% expense ratio and 0.49% management fee. LMLSX 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 a five-year annual return of 11.14%, this fund is a well-diversified fund with a long track record of success.

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.