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 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.

DFA Selectively Hedged Global Equity I (DSHGX Quick QuoteDSHGX - Free Report) : 0.32% expense ratio and 0.24% management fee. DSHGX is a Global - Equity mutual fund. These funds invest in large markets like the U.S., Europe, and Japan, and operate with very few geographical limitations. With annual returns of 10.13% over the last five years, this fund is a winner.

Janus Henderson Enterprise D (JANEX Quick QuoteJANEX - Free Report) . Expense ratio: 0.79%. Management fee: 0.64%. JANEX is a Mid Cap Growth mutual fund. Mid Cap Growth funds pick stocks--usually companies with a market cap between $2 billion and $10 billion--that demonstrate extensive growth opportunities for investors compared to their peers. This fund has managed to produce a robust 10.01% over the last five years.

Wells Fargo Special Mid Cap Value A (WFPAX Quick QuoteWFPAX - Free Report) . Expense ratio: 1.12%. Management fee: 0.66%. Five year annual return: 9.83%. WFPAX is a Mid Cap Value fund, which usually invests in companies with a stock market valuation between $2 billion and $10 billion.

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.