All bullets will fragment, if you push them faster than they are designed for both centerfire and muzzleloaders...

I have killed 8 deer with the standard Shockwaves and my hunting buddy has killed 5 more...Ranges are from 10 steps to 143 yards...

If anything, the Shockwave is a little "hard"...With lung shots,they run 80-125 yards, almost always exit, but the blood trail can be sparse...
My gun loves them and they do shoot flatter than the PowerBelts and 300gr Barnes MZ that I used to use...
If shots are within 125 yards, I'd go with the Barnes...I have farms with soybean fields, so some shots run longer than the norm...

I shoot 90grs of Pyrodex R-S and my buddy shoots 90grs of 777...

The pics that Chapman put up show a velocity of 2400fps...I'm assuming that's out of a Savage, with smokeless powder to reach that velociity...
I'm thinking that's where the fragmentation comes in...You won't reach that velocity with 100grs of black powder, Pyrodex or 777...I'd bet it would
be closer to 1800fps...

So...With a Savage and smokeless powder and the higher velocities, I'd shoot the bonded...With the other black powders, I'd go with the standard
Shockwaves...

btw...My deer don't usually run...I pop them in the shoulder and don't have to worry about the blood trail...