Do you mean a group? You can change the name of a group by editing them. If you need it to be dynamic, you can create a calculation that does this. As there is overlap between the ranges, would you have separate calculations?
I am working of an SSAS cube so I don't believe creating a group is an option.
Let me step back a little and explain.
Previously I was achieving my goal by using a Parameter with a series of calculated fields.
I created a parameter that contained the four values I wanted to display (YTD, QTD, MTD, LY).
I was using a distinct calculated member for each time period:
[Measures].[Expense Amount WWOps],[Posting Date].[Calendar].[Year].&
Then using an IF statement to toggle between then different calculated members based on the parameter value
IF [Date Filter] = 'LY' THEN [LY Expenses]
ELSEIF [Date Filter] = 'YTD' THEN [YTD Expenses]
ELSEIF [Date Filter] = 'QTD' THEN [QTD Expenses]
ELSEIF [Date Filter] = 'MTD' THEN [MTD Expenses]
This did achieve my goal of having a filter on the dashboard displaying the desired values however it created additional problems. I have an action on the dashboard that filters to another view with a greater level of detail (this is a work around for Show Details issues). Using the parameter and calculated field the [Posting Date] dimension does not exist in the view and is not being limited to the desired time period which means I cannot include a date in the detailed view.
If I use the [Posting Date] set and make it a global filter then the detailed view is filtered by the desired time period. It also allows me to remove all the calculated fields and members which removes an entire layer of complexity which is an added bonus.
But I would prefer the quick filter for the [Posting Date] set to be viewed in a compact list that shows like the parameter did (YTD, MTD, QTD, LY)