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The fact is, I do not think I have ever held anything for 3 years.

That is the difference between you and I. My (by far) largest mutual fund investment, I bought in 2006. I have accumulated a minor amount of that fund since then, but have sold none of it.

Since I hold longer, it is reasonable for me to look at longer term returns.

OTOH, I do some momentum investing in different accounts. In those accounts, I could care less with returns longer than 1 year ago.

Given your shorter term focus, shorter term look back is entirely reasonable.
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