Generally the larger the bullet, higher velositys, and expanding bullets , will cause more tissue damage and also
a great amout of blood vessle ruptures............
A smaller bullet sometimes will not exit the deer due to the lower energy and on the whole, will not have a big area of hide
and meat that has a bloody area the size a paper plate , however the smaller bullets at high speed can hit a rib and breakup with out deep penetration ,making for a bady wounded animal that will run off.
If you shoot a bullet that will penetrat to a Elks vitals and expand with 1500 ft lbs energy it will work , 1,000 fps is really pushing
ones chances of proper bullet exspansion with todays bullets.
Energy, bullet performance and shot placement is what kills Elk, not how big or small a caliber is.