Make the Most of Your Retirement with These Top-Ranked Mutual Funds

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.

Driehaus Global (DMAGX): 0.75% expense ratio and 0.65% management fee. DMAGX 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. DMAGX has achieved five-year annual returns of an astounding 11.11%.

Nuveen LargeCap Value R6 (TRLIX). Expense ratio: 0.4%. Management fee: 0.39%. TRLIX is a part of the Large Cap Value category, and invests in equities with a market capitalization of $10 billion or more, but whose share prices do not reflect their intrinsic value. This fund has managed to produce a robust 12.61% over the last five years.

GMO International Equity Allocation III (GIEAX): 0.01% expense ratio and 0% management fee. GIEAX is classified as an Allocation Balanced fund, which seeks to invest in a balance of asset types, like stocks, bonds, and cash, and including precious metals or commodities is not unusual. The fund is mainly invested in equities, has a long reputation of salutary performance, and has yearly returns of 12.84% 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).

Zacks Investment Research