We took elk from 85 yards to 865 yards last year with the 165 Matrix from either 270 wins or 270 WSM. The closest was a 300 class bull that my buddy caught trying to get out the back door, he hit him high with a heavy quartering angle and crushed three vertebra to pulp but did not exit, the bull was trying to lift his head up so he shot him in neck and that hit destroyed a lot of bone, his neck looked like a grenade went of under the skin. While the bullets did not exit the sectional density carried the bullet well into the elk, I'm not afraid of hitting bone on elk up close with them but you put them behind the shoulder and they are awesome!!
I shot the bull at 865 with my WSM, first bullet caught him a little back and got the liver an the back side of one lung, he took the hit hard and was only able to move a couple stumble steps but I put a second one through his lower shoulder, piled him up! The first bullet opened nice making a perfect wound channel, I really didn't need a second shot, the second bullet went through the heavy lower shoulder bone breaking in nicely and putting a good wound channel through the front of the lungs and exited out the front of the of shoulder, both bullets exited with a 1.5+ exit hole. I would not hesitate on an elk inside 1100 yards with my WSM and the 165 Matrix, at my elevation anyway.
I shot some whitetail doe's at around 200 yards with the WSM to see how they would do and the performance was stellar, first doe's heart was MIA and the second one with a heavy quartering put a 2in hole clean through her, with all bullet exiting.
The sectional density is king on elk IMO, I've shot a pile of elk with a 300 WBY and 165 Barnes but my 270 WSM with a 165 Matrix is much better on elk and at a much longer range!!!
The Matrix bonded 150 would be a solid choice I think for elk, I'd be shooting it if I couldn't stabilize the heavier bullets, fortunately we are at 6000+ft and they shoot from our 1-10 twists very well.