What term should I assume for a typical medium term investor?
The EV portfolios cover 5 term groups of <5 years, 6-10, 11-15, 16-20 and 21 years+. For a specific investor with a known term, use the actual term of their investment goal.
For a typical investor, you could assume a term of in the middle of the range, for example 13 years for a typical medium term investor. For a short term investor, you could assume around 8 years, and for long term around 18 years.