Both the ELD-M and ELD-X are extremely accurate, and highly frangible. The X is less so and thereby the only ELD that is recommended for hunting. Both versions have excellent BC and long range ballistics.
Hornady designed both projectiles for superior long range performance. In hunting situations, for the ELD as well as for nearly all bullets, the bullet performance is highly dependent on impact velocity. The frangible characteristic engineered into the ELD line makes for more unpredictable performance on game at high impact velocities (I.e. closer ranges where impact velocity is higher than 2600-2700 fps.)
To overcome the weakness at closer range, Hornady (and the preciously referenced Nathan Foster) recommends hunting with bullets that are typically considered heavy for cartridge. (E.g. over 200gr for 30cal magnums and even the 30-06.)
Based on my own experience, impact velocities above 2600fps do often deliver unpredictable performance. At any velocity, Massive tissue damage is essentially guaranteed, but deep penetration and/or a rapid death is not. If most of the variables line up you often get the unfortunately fashionable bang/flop outcome. Short of that you should expect dramatic tissue loss are sometime lost or lingering death for your harvest.
The ELD bullets are fantastic long range projectiles and should be selected and reserved for that special purpose. If you cannot assure low impact velocities, you should select another bullet.