There is never a wrong time to invest in mutual funds for retirement. So, if you're still looking for the best mutual funds, the Zacks Mutual Fund Rank can be a great guide.

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 NYLI Epoch Global Equity Yield Inv (EPSIX). EPSIX is a Global - Equity mutual fund. These funds invest in large markets like the U.S., Europe, and Japan, and operate with very few geographical limitations This fund is a winner, boasting an expense ratio of 1.17%, management fee of 0.7%, and a five-year annualized return track record of 13.24%.

Janus Henderson Enterprise A (JDMAX): 1.12% expense ratio and 0.64% management fee. JDMAX is a Mid Cap Growth mutual fund. These funds aim to target companies with a market capitalization between $2 billion and $10 billion that are also expected to exhibit more extensive growth opportunities for investors than their peers. With yearly returns of 11.81% over the last five years, JDMAX is an effectively diversified fund with a long reputation of solidly positive performance.

PIMCO Dividend & Income Institutional (PQIIX): 0.7% expense ratio and 0.69% management fee. PQIIX is an Allocation Balanced mutual fund. Allocation Balanced funds look to invest across asset types, like stocks, bonds, and cash, and including precious metals or commodities is not unusual; these funds are mostly categorized by their respective asset allocation. With a five-year annual return of 12.06%, this fund is a well-diversified fund with a long track record of success.

These examples highlight the fact that there are some astonishingly good mutual funds out there. If your advisor has you in the good ones, bravo! If not, you may need to have a talk.

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

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