I admit I don't have any experience with the SMK and I'll probably get all kinds of grief from others on this forum for saying this. I am constantly amazed by folks who talk about using the SMK for hunting because it shoots tight groups at the range. The SMK is a target bullet, not a hunting bullet! No hate mail, please.
There are lots of other good choices, as already noted. Ballistic Tip - good for more rapid expansion in soft tissue at longer ranges, not good for close range or quartering-away shots or penetration, not my first choice. TSX - good for penetration and exit holes. Accubond or Partition - good all-around performance. Lots of folks like the SST; I have not had good luck with it. For shots out to 300 yards or so, I'd go with a 165 gr bullet. If you really think you'll be shooting at 400 yards, a heavier bullet might be better.
This is a picture of the bullet recovered from goodgroopers Moose thaken with the 300 grain 338 caliber SMK
Looks like pretty good performance to me.
The entire thread is here
There is also a thread in the Long Range hunting section of a Sambar taken with the same bullets and the results were quite impressive to say the least.