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 easiest, most reliable way to judge a mutual fund's quality over time is by analyzing its performance, diversification, and fees. The Zacks Mutual Fund Rank, which covers over 19,000 mutual funds, has helped us identify three outstanding options that are perfect for any long-term investors' portfolios that is retirement-focused.

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

Fidelity Advisor Technology A

(FADTX): 0.96% expense ratio and 0.53% management fee. FADTX is a Sector - Tech mutual fund, allowing investors to own a stake in a notoriously volatile sector with a much more diversified approach. FADTX has achieved five-year annual returns of an astounding 24.95%.

Principal Mid Cap R3

(PMBMX) is a stand out amongst its peers. PMBMX 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 five-year annualized performance of 11.85%, expense ratio of 1.15% and management fee of 0.58%, this diversified fund is an attractive buy with a strong history of performance.

T. Rowe Price Institutional Large Cap Growth

(TRLGX) is an attractive large-cap allocation. TRLGX 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. TRLGX has an expense ratio of 0.56%, management fee of 0.55%, and annual returns of 16.89% over the past 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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