There's 3/4ths, 2/3rds, 4/5ths, 7/8ths. What's the difference in terms of functionality/advantage/disadvantage between these apart from the size of the headsail?
I believe that is was shown many years ago, on model yachts, that a fractional rig is the most efficient to windward, though I don't know the ideal proportions. I think that my HR 34 is described as 19/20, which is barely fractional but gives a much more managable foresail than a masthead would. I suspect that the arrangement is often dictated by such factors as cruising requirements, deck layout, cost and so on, rather than perfect sailing performance.
Most racing dinghies seem to have 2/3 to 3/4 sized rigs - but often an important aspect is a tapered (now often carbon) mast top section, which is designed to flex in the gusts, depowering the rig when needed.
On bigger yachts a lower fraction rig may require running back stays to maintain the forestay tension - and keep the mast standing when downwind.
This is extra hassle for a cruising boat hence why they sometimes have odd sized like 9/10 or so, to avoid the extra back stays - but frankly is pretty much masthead as makes any differnce so not sure why they bother