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 break down some of the mutual funds with the top Zacks Mutual Fund Rank and the lowest fees.

Goldman Sachs Large Cap Value IR (GSVTX Quick QuoteGSVTX - Free Report) : 0.78% expense ratio and 0.75% management fee. GSVTX is a Large Cap Value mutual fund, which invests in stocks with a market cap of $10 billion of more, but whose share prices do not reflect their intrinsic value. GSVTX has achieved five-year annual returns of an astounding 11.51%.

Vericimetry U.S. Small Cap Value Fund (VYSVX Quick QuoteVYSVX - Free Report) . Expense ratio: 0.6%. Management fee: 0.5%. VYSVX is a Small Cap Value mutual fund, investing in small companies with stock market valuation less than $2 billion. This fund has managed to produce a robust 13.33% over the last five years.

JPMorgan Disciplined Equity A (JDEAX Quick QuoteJDEAX - Free Report) is an attractive large-cap allocation. JDEAX is part of the Large Cap Blend section, and these mutual funds most often invest in firms with a market capitalization of $10 billion or more. By investing in bigger companies, these funds offer more stability, and are often well-suited for investors with a "buy and hold" mindset. JDEAX has an expense ratio of 0.6%, management fee of 0.25%, and annual returns of 16.87% 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.