AirPlay can do both. There's a "screen mirroring" button in Control Center that streams your phone screen to the TV, but if you tap the AirPlay button on a vide

AirPlay can do both. There's a "screen mirroring" button in Control Center that streams your phone screen to the TV, but if you tap the AirPlay button on a video player or in the audio device selector, the TV will stream the video directly from the server at native resolution and FPS, without going through your phone (you can turn your phone off and playback will continue).