A munition is described including a reactive fragment having an energetic material having a least one layer of a reducing metal or metal hydride and at least one layer of a metal oxide dispersed in a binder material. A method is also described including forming a energetic material; including combining the energetic material having a least one layer of a reducing metal or metal hydride and at least one layer of a metal oxide with a polymeric binder material to form a mixture; and shaping the mixture to form a reactive fragment. The munition may be in the form of a warhead, and the reactive fragment may be contained within a casing of the warhead.