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 easiest, most reliable way to judge a mutual fund's quality over time is by analyzing its performance, diversification, and fees. The Zacks Mutual Fund Rank, which covers over 19,000 mutual funds, has helped us identify three outstanding options that are perfect for any long-term investors' portfolios that is retirement-focused.

Let's take a look at some of our top-ranked mutual funds with the lowest fees.

DFA US Small Cap Value I (DFSVX Quick QuoteDFSVX - Free Report) : 0.31% expense ratio and 0.28% management fee. DFSVX is a Small Cap Value mutual fund, investing in small companies with stock market valuation less than $2 billion. With annual returns of 12.25% over the last five years, this fund is a winner.

Dreyfus Strategic Value Y (DRGYX Quick QuoteDRGYX - Free Report) is a stand out amongst its peers. DRGYX 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. With five-year annualized performance of 14.07%, expense ratio of 0.64% and management fee of 0.6%, this diversified fund is an attractive buy with a strong history of performance.

Fidelity Advisor New Insights M (FNITX Quick QuoteFNITX - Free Report) : 0.93% expense ratio and 0.4% management fee. FNITX is a Large Cap Growth mutual fund, and these funds invest in many large U.S. firms that are projected to grow at a faster rate than their large-cap peers. The fund is mainly invested in equities, has a long reputation of salutary performance, and has yearly returns of 14.67% over the last five years.

There you have it. If your financial advisor had you put your money into any of our top-ranked funds, then they've got you covered. If not, you may need to talk.