No doubt it kills them. I handloaded some 60gr Nosler Partitions a few years back, and shot a few does with my AR15 out to 175 yards.
I came to these conclusions:
Deer shot behind the shoulder, thru the boiler room showed no sign of being hit, and ran anywhere from 75-250 yards. They all stopped, looked back, and tipped over.
Head shot does, fell in their tracks and didn't even twitch.
I'm not going to touch on the "ethical or effective" as I don't feel like opening that can of worms already this morning.