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 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.

Fidelity Dividend Growth Fund

(FDGFX Quick QuoteFDGFX - Free Report) has a 0.7% expense ratio and 0.68% management fee. FDGFX 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. With yearly returns of 12.76% over the last five years, this fund clearly wins.

Moerus Worldwide Value Instl

(MOWIX Quick QuoteMOWIX - Free Report) is a stand out amongst its peers. MOWIX is a Global - Equity mutual fund, which invests their assets in large markets, leveraging the global economy. With five-year annualized performance of 12.32%, expense ratio of 1.25% and management fee of 0.95%, this diversified fund is an attractive buy with a strong history of performance.

Wells Fargo Special Mid Cap Value Admiral

(WFMDX Quick QuoteWFMDX - Free Report) . Expense ratio: 1.05%. Management fee: 0.66%. Five year annual return: 10.57%. WFMDX is a Mid Cap Value mutual fund, which targets medium-sized companies with a market cap between $2 billion and $10 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.