I've never seen one marketing themselves as that or a part-time position advertised as fractional. In my 2 year experience as a fractional CTO it's only "Head of" and C-level. Happy to stand corrected.
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[founder of https://fractionaljobs.io here] You're generally correct, though people will certainly use the word fractional in a much more... how do we say... "aspirational" way, if you catch my drift.
Interesting, so no hands-on senior engineering "fractional" positions either? i.e. who actually build things.
CTOs come in all shapes or sizes. Some can (still) build things, others are very hands-off. Some fractionals are hired to actually design and build the first part of the system.