When you add the Phrase module in the Relevance Ranking Modules editor, you are presented with an editor that allows you to set these options.
The Phrase module has a variety of options that you use to customize its behavior:
Rank based on length of subphrases
Use approximate subphrase/phrase matching
Apply spell correction, thesaurus, and stemming
Ranking based on sub-phrases
Subphrasing ranks results based on the length of their subphrase matches. In other words, results that match three terms are considered more relevant than results that match two terms, and so on.
About approximate matching
The approximate setting is appropriate in cases where the runtime performance of the standard Phrase module is inadequate because of large result contents and/or high site load.