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.

Here are the funds that have achieved the Zacks Mutual Fund Rank #1 (Strong Buy) and have low fees.

If you are looking to diversify your portfolio, consider Fidelity Trend Fund (FTRNX Quick QuoteFTRNX - Free Report) . FTRNX is a Global - Equity mutual fund investing in bigger markets like the U.S., Europe, and Japan; these kinds of funds aren't limited by geography. This fund is a winner, boasting an expense ratio of 0.52%, management fee of 0.48%, and a five-year annualized return track record of 19.07%.

JPMorgan Growth Advantage R5 (JGVRX Quick QuoteJGVRX - Free Report) . Expense ratio: 0.65%. Management fee: 0.55%. JGVRX 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. This fund has managed to produce a robust 20.05% over the last five years.

PGIM Jennison Small Company Z (PSCZX Quick QuotePSCZX - Free Report) . Expense ratio: 0.81%. Management fee: 0.67%. Five year annual return: 10.54%. PSCZX is a Small Cap Blend mutual fund that usually targets companies with a market capitalization of less than $2 billion.

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.