Does your current advisor have your money invested in these "Mutual Fund Misfires of the Market" that charge high fees for low returns? If so, it may be time for a new advisor.

The easiest way to judge a mutual fund's quality over time is by analyzing its performance and fees. Our Zacks Rank of over 19,000 mutual funds has identified some of the worst of the worst mutual funds you should avoid, the funds with the highest fees and poorest long-term performance.

Below, you'll read about some of the funds included in our current list of "Mutual Fund Misfires of the Market." And if by chance you're invested in any of these misfires, we'll help and review some of our highest Zacks Ranked mutual funds.

3 Mutual Fund Misfires

Now, let's take a look at three market misfires.

AB International Value C (ABICX): 2.32% expense ratio and 0.75% management fee. ABICX is a part of the Non US - Equity fund category, many of which will focus across all cap levels, and will typically allocate their investments between emerging and developed markets. With a five year after-expenses return of -0.64%, you're mostly paying more in fees than returns.

Ivy Cundill Global Value A (ICDAX): 1.55% expense ratio, 1%. ICDAX is a Global - Equity mutual fund. These funds invest in large markets like the U.S., Europe, and Japan, and operate with very few geographical limitations. This fund has yearly returns of -1.95% over the most recent five years. Another fund liable of having investors pay more in charges than what they receive in return.

James Small Cap A (JASCX) - 1.5% expense ratio, 1.24% management fee. JASCX is a Small Cap Value mutual fund option, which typically invest in companies with market caps under $2 billion. JASCX has generated annual returns of 1.28% over the last five years. Ouch!

3 Top Ranked Mutual Funds

Since you've seen the most noticeably lowest Zacks Ranked mutual funds, how about we take a look at some of the top ranked mutual funds with the least fees.

Oppenheimer Discovery R (ODINX): Expense ratio: 1.33%. Management fee: 0.63%. ODINX is a Small Cap Growth mutual fund and tends to feature small companies in up-and-coming industries and markets. This fund has achieved five-year annual returns of an astounding 12.03%.

Principal Large Cap Growth I R5 (PPUPX): Expense ratio: 0.85%. Management fee: 0.6%. PPUPX 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. PPUPX has managed to produce a robust 14.09% over the last five years.

Putnam Multi-Cap Growth Fund R (PNORX) has an expense ratio of 1.29% and management fee of 0.51%. PNORX is an All Cap Growth mutual fund investing in a wide variety of equities, no matter the size of the company and as long as the firm exhibits growth characteristics. With annual returns of 12.02% over the last five years, this fund is a well-diversified fund with a long track record of success.

Bottom Line

Along these lines, there you have it - if your financial guide has you put your money into any of our "Mutual Fund Misfires of the Market," there is a strong likelihood that they are either dormant at the worst possible time, inept, or (in all probability) filling their pockets with high fee commissions at the cost of your financial objectives.

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