Should You Add These 3 Top-Performing Mutual Funds to Your Portfolio?

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.

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

Fidelity Advisor Growth Opportunities I (FAGCX) has a 0.71% expense ratio and 0.69% management fee. FAGCX 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 10.45% over the last five years, this fund clearly wins.

GMO International Equity Alloc R6 (GSXMX): 0.01% expense ratio and 0% management fee. GSXMX is a part of the Allocation Balanced fund category; these funds like to invest in a variety of asset types, finding a balance between stocks, bonds, cash, and sometimes even precious metals and commodities; they are mostly categorized by their respective asset allocation. With yearly returns of 12.84% over the last five years, GSXMX is an effectively diversified fund with a long reputation of solidly positive performance.

Lord Abbett Growth Leaders R5 (LGLUX): 0.65% expense ratio and 0.51% management fee. LGLUX is a part of the Large Cap Growth mutual fund category, which invest in many large U.S. companies that are expected to grow much faster compared to other large-cap stocks. With a five-year annual return of 7.79%, this fund is a well-diversified fund with a long track record of success.

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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