I would not hunt and do not hunt elk with anything but a fixed broadhead. There are a lot of good ones out there that fly really well and that really hang in there if you happen to hit a rib or a shoulder bone. It happens to the best shots. A bow of decent poundage, a hunter that can shoot it well, a good arrow, and a scary sharp broadhead, and with "Murphy" in the next county over, you'll have your freezer full in no time.
What he said.