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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.

How can you tell a good mutual fund from a bad one? It's pretty basic: if the fund is diversified, has low fees, and shows strong performance, it's a keeper. Of course, there's a wide range, but using the Zacks Mutual Fund Rank, we've found three mutual funds that would be great additions to any long-term retirement investors' portfolios.

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

Janus Henderson Enterprise I

(JMGRX) has a 0.76% expense ratio and 0.64% management fee. JMGRX is a Mid Cap Growth mutual fund. These mutual funds choose companies with a stock market valuation between $2 billion and $10 billion. With yearly returns of 12% over the last five years, this fund clearly wins.

BlackRock Advantage Large Cap Core C

(MCLRX) is a stand out amongst its peers. MCLRX 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 five-year annualized performance of 13.91%, expense ratio of 1.48% and management fee of 0.43%, this diversified fund is an attractive buy with a strong history of performance.

JPMorgan Large Cap Value Fund A

(OLVAX): 0.93% expense ratio and 0.4% management fee. OLVAX 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. The fund is mainly invested in equities, has a long reputation of salutary performance, and has yearly returns of 16.55% over the last five years.

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.

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This article originally published on Zacks Investment Research (zacks.com).

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