AEM supports both Experience Fragments and Content Fragments.
What is a fragment in a CMS?
A fragment is an editable item kept in a common location that can be reused on multiple pages whenever needed.
Experience Fragments vs Content Fragments
Both give AEM headless capability — one of the most sought-after features in any CMS.

- Content Fragment — pure content, without design or layout, delivered as JSON. The consuming channel has to turn it into a complete web experience.
- Experience Fragment — fully laid-out content, a portion of a web page, served directly to a website or channel.

When to use which
Use a Content Fragment when the same content has to reach many channels — pages, single-page applications, mobile apps — each of which renders it its own way. Use an Experience Fragment when a designed block, such as a header, a promotion or a teaser, should be reused as it is.
More on Content Fragments: AEM 6.4 Content Fragment output as JSON and working with GraphQL in AEM.