Targets aren't animals. Foam grabs; flesh separates and blood, water, and fat lubricate.
Like most everything else, there's a ton of variables to consider. There's no magic arrow, just like there's no magic broadhead, or bow, or string.
All things equal, carbon may out-penetrate on an animal--if it does, it won't be nearly as dramatic a difference as you see on a target.
If you get a chance, watch Fred Bear's "Mozambique Game Trails", and/or read "Fred Bear's Field Notes--The Adventures of Fred Bear". Mr. Bear killed a bull elephant with one arrow, pulling around 70#. He didn't have a carbon arrow, or a single bevel broadhead, or a "super" string, or a "super" bow. Elephant was just as dead.