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 MisfiresNow, let's take a look at three market misfires.Catalyst Hedged Futures Strategy I (HFXIX): Expense ratio: 2.08%. Management fee: 1.75%. After expenses, the 5 year return is -3.87%, meaning your fees are far higher than the fund's returns.Advisory Research Emerging Markets Opportunity (ADVMX): ADVMX 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. ADVMX offers an expense ratio of 1.35% and annual returns of -1.57% over the last five years. Even if this fund can be positioned as a hedge during the recent bull-market, paying more in fees than returns over the long-term should never be an acceptable result.Fidelity Advisor Event Driven Opportunity M (FJPDX): Expense ratio: 1.78%. Management fee: 0.8%. FJPDX is a Small Cap Blend mutual fund, allowing investors a way to diversify their funds among various types of small-cap stocks. With annual returns of just 1.54%, it's no surprise this fund has received Zacks' "Strong Sell" ranking.3 Top Ranked Mutual FundsThere you have it: some prime examples of truly bad mutual funds. In contrast, here are a few funds that have achieved high Zacks Ranks and have low fees.Conestoga Small Cap Institutional (CCALX): 0.9% expense ratio and 0.9% management fee. CCALX is a Small Cap Blend mutual fund, allowing investors a way to diversify their funds among various types of small-cap stocks. With an annual return of 15.54% over the last five years, this fund is a winner.AQR Large Cap Defensive Style R6 (QUERX) has an expense ratio of 0.3% and management fee of 0.25%. QUERX is part of the Large Cap Blend section, and these mutual funds most often invest in firms with a market capitalization of $10 billion or more. By investing in bigger companies, these funds offer more stability, and are often well-suited for investors with a "buy and hold" mindset. With annual returns of 14.03% over the last five years, this is a well-diversified fund with a long track record of success.Victory Sycamore Small Company Opportunity Y (VSOYX): Expense ratio: 1.09%. Management fee: 0.76%. VSOYX is a Small Cap Value mutual fund option, which typically invest in companies with market caps under $2 billion. VSOYX has produced a 11.15% over the last five years.Bottom LineWe 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 is not the case, and your advisor has you invested in any of the funds on our "worst offender" list, it might be time to have a conversation or reconsider this vitally important relationship.Do You Know the Top 9 Retirement Investing Mistakes?Whether you're planning to retire early or not, don't let investing mistakes derail your plans.If you have $500,000 or more to invest and want to learn more, click the link to download our free report, 9 Retirement Mistakes that will Ruin Your Retirement.This report will help you steer clear of the most common mistakes, like trying to time the market, lack of diversification in your portfolio, and many more. Get Your FREE Guide Now Get Your Free (CCALX): Fund Analysis Report Get Your Free (FJPDX): Fund Analysis Report Get Your Free (ADVMX): Fund Analysis Report Get Your Free (HFXIX): Fund Analysis Report Get Your Free (VSOYX): Fund Analysis Report Get Your Free (QUERX): Fund Analysis Report To read this article on Zacks.com click here. Zacks Investment Research