3 Great Mutual Fund Picks for Your Retirement

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 learn about some of Zacks' highest ranked mutual funds with low fees you may want to consider.

If you are looking to diversify your portfolio, consider Franklin Utilities R6 (FUFRX). FUFRX is a Sector - Utilities fund, and these types of mutual funds are known for their stability; they focus on companies that provide essential services to millions of people on a daily basis like electric power, gas distribution, and water supply. This fund is a winner, boasting an expense ratio of 0.5%, management fee of 0.46%, and a five-year annualized return track record of 15.51%.

Timothy Plan Israel Common Values I (TICIX): 1.46% expense ratio and 1% management fee. TICIX is a Non US - Equity option, focusing their investments acoss emerging and developed markets, and can often extend across cap levels too. TICIX, with annual returns of 16.52% over the last five years, is a well-diversified fund with a long track record of success.

American Funds Washington Mutual Investors R4 (RWMEX) is an attractive large-cap allocation. RWMEX is a Large Cap Value mutual fund, which invests in stocks with a market cap of $10 billion of more, but whose share prices do not reflect their intrinsic value. RWMEX has an expense ratio of 0.61%, management fee of 0.22%, and annual returns of 13.8% 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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This article originally published on Zacks Investment Research (zacks.com).

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