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.

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 retirement investors' portfolios.

Here are the funds that have achieved the Zacks Mutual Fund Rank #1 (Strong Buy) and have low fees.

Fidelity Fund K (FFDKX): 0.37% expense ratio and 0.31% management fee. FFDKX is classified as a Large Cap Blend fund. More often than not, Large Cap Blend mutual funds invest in companies with a market cap of over $10 billion. Buying stakes in bigger companies offer these funds more stability, and are well-suited for investors with a "buy and hold" mindset. With annual returns of 10.05% over the last five years, this fund is a winner.

T. Rowe Price New Amer Growth I (PNAIX): 0.66% expense ratio and 0.63% management fee. PNAIX is a Large Cap Growth mutual fund, and these funds invest in many large U.S. firms that are projected to grow at a faster rate than their large-cap peers. With yearly returns of 13.63% over the last five years, PNAIX is an effectively diversified fund with a long reputation of solidly positive performance.

Virtus KAR Small-Cap Core A (PKSAX): 1.25% expense ratio and 0.75% management fee. PKSAX is a Small Cap Blend mutual fund, allowing investors a way to diversify their funds among various types of small-cap stocks. With a five-year annual return of 12.14%, this fund is a well-diversified fund with a long track record of success.

There you have it. If your financial advisor had you put your money into any of our top-ranked funds, then they've got you covered. If not, you may need to talk.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.