The 300 AAC Blackout is a fairly capable cartridge, but it absolutely requires the use of the "correct" bullet and load.
Dad's old 270/308/3006 will cleanly harvest game with almost any load made. While we like to sit around the campfire and argue about how my favored 180 load outperforms your 150 grain loading, and Uncle Lou is pissing and moaning about the 165 splitting the distance, all will get it done without fuss. The 300 Blackout does NOT have that versatility..... And unlike the typical 270/308/3006, the Blackout comes in two very distinct load types.....
Subsonics... In order to minimize firing noise (or more correctly, the noise of the projectile breaking the sound barrier), the 300 AAC comes in lot of subsonic loadings. Given that there is a hard upper boundary for speed in a subsonic load, the only way to increase "power" is to use a heavier bullet and to use a bullet that does not suffer from lots of aerodynamic drag. We end up with various 208, 220, 240 grain streamlined bullets in the Blackout. Fundamentally, these are all pretty much identical in that they use the heaviest practical bullets and a streamlined projectile. The end result is simple: This is a more efficient loading and has the most practical energy that can be easily obtained within the constraints of the subsonic speed limits and a cartridge that still fits in an AR magazine and bolt face. But any way you slice it, you are essentially using a cartridge that roughly approximates the .45 ACP.... These bullets typically will not expand, and if they do expand, they typically won't have enough actual energy to really penetrate deeply (like your expanded .30 in the 308). These subsonic loads have all kind of benefits over a subsonic 9mm for example, but they really are not great hunting loads. Don't use them.
Supersonics. Stick a 110 to 125 grain expanding bullet in the 300 AAC, and its an entirely different performer. I typically think of these as roughly equal to the 7.62x39 soviet loading. These are entirely capable game takers, within their range limitations. I'm entirely comfortable using these loads to about 100 yards, maybe 125. To get the best performance out of these loads, you need a bullet designed to open at fairly modest speeds. The 300 Blackout isn't going to push bullets to 2800 fps like a 308 will. Nosler's 125 Ballistic Tip and Hornady's similar SST. These are fairly lightly constructed bullets, but they will open up and expand at modest 300 AAC speeds. The other option, which is probably the best option on the market, is the Barnes 110 grain load. This bullet was specifically designed for the impact speeds of the AAC.
Note regarding distance: Maybe you can hit targets reliably at 250 yards with the AAC. Good for you! Unfortunately, the 125 yard limit is still in effect. The 300 AAC simply doesnt have the horsepower to be a decent long range player. The issue isn't rounds on target, its remaining velocity. While you may hit targets at 300 yards, the remaining velocity has dropped significantly. As a result, even the very good performing bullets like the Nosler BT, the Hornady SST and the Barnes TAC-TX now have insufficient remaining velocity to really work well. In most guns all three of these should be running roughly 2000 fps or so at 100 yards, and likely down into the mid 1900's but 150 yards (those are off the cuff estimates). Once bullet speeds drop below the 1900 FPS range, bullet expansion and terminal effect starts to really suffer. Limit shots to 125 (100 would be better!) and it will all work out fine.
Limit your shots to reasonable ranges. Use one of the three bullets mentioned above. And so long as you do your part and but the bullet in the vitals, those loads will cleanly harvest your deer or hog. If you get creative and try to use a subsonic load, do so knowing that the odds of crippled or wounded game animal are SIGNIFICANTLY higher. The subsonics just don't work nearly as well as the supersonics....
Fro
Edit: Hornady does a pretty god job matching bullet to the cartridge and intended use. The FTX loads are, by and large, decent performers out of modest guns and cartridges like the 30-30 and 35 rem. Given that they reduced the bullet weight to 135 grains, I suspect the bullet is specifically manufactured for the 300 AAC's velocity limitations. Designed for purpose, if you will, just like the 110 Barnes TAC Tx load. It should work fine. Careful about range.... Those 135's only start at about 2000 fps or a bit more, so they arent going fast to begin with. Speeds will drop off sharply beyond 100 yards, and terminal effect will suffer accordingly.