Before I get carried away, what rifle and twist will you be shooting? You want to try a lot of bullets. And don't over look conical bullets. What ever one gives you the best and most consistent accuracy, and meets your hunting needs.
For instance, if my shots were longer in distance then 100 yards, I might go with a Barnes MZ Expander in 250 or 300 grain. I would shoot them with as much powder as I could that would still be accurate. In my case, my Genesis with 100 grains of Pyrodex RS will really shoot that bullet. So will my Knight Disc rifle.
If my shots were in woods, where the shot would be under 100 yards, I would be shooting a Bull Shop 460 grain or 500 grain Conical Bullet with 80 grains of Triple Seven 2f powder out of my White Ultra Mag. I would aim for the heart and lungs and put a world of hurt on them with that big conical bullet.
I have a Black Diamond XR that shoots Nosler 260 grain .452 bullets and 110 grains of Triple Seven 2f with some extreme accuracy. While that Nosler Partition's is not a 300 grain bullet, I personally feel it is plenty to handle the job.
Now for my disclaimer... I have never killed an elk with a muzzleloader. I have killed a lot of deer, but no elk as Wisconsin is still a little elk shy. But I've shot a ton of bullets on the range and into different media and do know what penetrates and expands. Just my two cents.
There are other bullets also that I feel could do the job. My recommendation again is, try some and see what your rifle shoots the best.