3 Magnificent Mutual Funds to Maximize Your Retirement Portfolio

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 investors' portfolios.

Let's take a look at some of our top-ranked mutual funds with the lowest fees.

Lazard Global List Infrastructure Open (GLFOX): 1.21% expense ratio and 0.9% management fee. GLFOX 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 GLFOX has achieved five-year annual returns of an astounding 10.48%.

AQR Managed Futures Strategy R6 (AQMRX): 1.16% expense ratio and 1.05% management fee. AQMRX 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. AQMRX, with annual returns of 13.86% over the last five years, is a well-diversified fund with a long track record of success.

Invesco SteelPath MLPSelect 40 R (SPMWX). Expense ratio: 1.37%. Management fee: 0.69%. Five year annual return: 22.48%. SPMWX is classified as a Sector - Energy mutual fund. Throughout the massive global energy sector, these funds hold a wide range of quickly changing and vitally important industries.

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.

Zacks' Research Chief Names "Stock Most Likely to Double"

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

Zacks Investment Research