Hiya --
I have discovered through trial and error and years of waking up exhausted that -- for me -- it is the number of RERAS, or respiratory-effort-related-arousals that matter, and those are not included in the almighty "AHI" that everyone points to. Unless some do include RERAS, I have been given to understand it is the apnea/hypopneas index -- and that does NOT give you ANY measure of sleep fragmentation, which will make you feel like horsehockey in the morning!
In fact, I have had AHIs of 3 and felt better on awakening than I have with AHIs of 0.3 -- no typo there -- but when I put my SD card (from a Respironics machine, the ResMeds don't flag these in the software -->) into SleepyHead software, the mornings I feel like horsehockey, I have had a BIG batch of RERAS in the couple of hours before get-up; mornings I wake up okay or good, very few.... and the sleep fragmentation is what got me into the horrors of bad cognitive deficits.
My guess is that just about ANYthing can fragment your sleep: a restless bed partner, sore muscles, too much sugar/carb before bed, a dangerous neighborhood with gun shots or break-ins, a dangerous relationship, a sick child or significant other....if it fragments your sleep, and you wake up too many times each night, you are going to be in a world of hurt.
So I suggest if you aren't already doing it, go find JediMark's opensource software program called SleepyHead -- it's on his own site now and supports the newest of the Respi machines, so he's keeping it current. Flip him some bucks if you think the software is helpful. There's a lot to learn, but if nothing else and you have a Respi machine, you'll see the RERAS and can track your own subjective quality of sleep versus the somewhat more objective machine data.
You could also go check out SleepImage.com -- I am doing a trial of that device right now, and it provides some info I'm still learning to discern.
Good luck, and let us know how you're doing?