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.

GMO U.S. Equity Allocation Fund Class VI (GMCQX Quick QuoteGMCQX - Free Report) : 0.39% expense ratio and 0.37% management fee. GMCQX 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 annual returns of 15.14% over the last five years, this fund is a winner.

Voya Mid Cap Opportunities Portfolio S2 (IMOPX Quick QuoteIMOPX - Free Report) : 1.06% expense ratio and 0.79% management fee. IMOPX is a Mid Cap Growth mutual fund. These mutual funds choose companies with a stock market valuation between $2 billion and $10 billion. IMOPX, with annual returns of 10.21% over the last five years, is a well-diversified fund with a long track record of success.

JPMorgan US Equity Fund R5 (JUSRX Quick QuoteJUSRX - Free Report) . Expense ratio: 0.54%. Management fee: 0.4%. Five year annual return: 16.75%. JUSRX 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.

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.