Should you add these 3 top performing mutual funds to your portfolio?

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It is too late to invest in mutual funds for retirement. So, if you are planning to invest in some of the best mutual funds, Zacks Mutual Fund Rank can provide you with valuable guidance.

How to distinguish a good mutual fund from a bad one? It’s pretty basic: If the fund is diversified, has low fees and strong performance, it’s a keeper. There’s certainly a wide range, but using the Zacks Mutual Fund Rankings, we’ve found three mutual funds that would be great additions to any long-term retirement investor’s portfolio.

Let’s break down some mutual funds with high Zacks Mutual Fund Ratings and very low fees.

Neuberger Berman Guardian Institute (NGDLX): 0.68% expense ratio and 0.63% management fee. NGDLX is part of the Large Cap Value category, and invests in market capitalizations of $10 billion or more, but their stock prices do not reflect their intrinsic value. NGDLX has achieved an impressive five-year annualized return of 12.34 percent.

Oppenheimer Discovery R (ODINX) Expense Ratio: 1.28% Management Fee: 0.59%. ODINX is a Small Cap Growth mutual fund that builds its portfolio around stocks with a market cap of less than $2 billion and great growth opportunities. This fund has managed to produce a solid 11.02% over the past five years.

Great-WestMultiMgrLgCapGrowIns (MXGSX): 0.65% expense ratio and 0.64% management fee. MXGSX is part of the large-cap growth mutual fund category, which invests in many large U.S. companies that tend to grow faster than other large-cap stocks. With a five-year annualized return of 14.14%, this fund is a well-diversified fund with a long history of success.

These examples highlight the fact that there are surprisingly good mutual funds out there. If your mentor is in good hands, bravo! If not, you may need to have a talk.

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