Range.ExportFragment (Word)

Exports the selected range into a document for use as a document fragment.

ExportFragment (FileName, Format)

Dim strFileName As String: strFileName =  
ActiveDocument.Range.ExportFragment FileName:=strFileName, Format:=wdFormatDocument

Arguments

The following arguments are required:

FileName (String) - Specifies the path and file name of the file in which to save the document fragment.

Format (WdSaveFormat) - Specifies the file format of the document fragment file.

Here you can find possible values for WdSaveFormat