Here has been my experience with penitration using different kinds of arrow for hunting and 3D. when your point or broadhead has a larger diameter than the shaft you will definitely see more penetration due to the fact there is less drag. like dropping a one inch dowel through a
1 1/8" inch hole...The same goes for carbon , aluminum and wood. There should be no difference in penetration between a wood arrow and an aluminum arrow if the diameters are the same, and a good smooth finish is applied to the wood shaft.
Woodies are cool!...they are traditional archery at it's finest in my opinion and I'm going to hunt with them myself this year. How do they compare with carbons and aluminum? Even with pain staking effort to build woodies exactly the same. it's very tough to get the weight and spine of each arrow really close. I'm making my own wood shafts though too. But they don't compare to the consistency you get with aluminum and carbon..
The carbons are viewed by some as the best. and they are by far the straightest arrows out there. they are either dead straight, or broken. there is nothing between. but sometimes the spine in one batch can vary a lot. they are stiff little buggers any way. In order to hunt with these using a trad bow,usully requires weight tubes, or extreme up front weight throwing your FOC way out of whack. considering the short distances we shoot I'm uncertain on how much difference this makes.
Aluminum arrows can be built with unbelievable consistency in weight and straightness. it is easier to balance your FOC with aluminum than a carbon due to a lot more choices in wall thickness. Shawn may argue this point, due to his vast experience in all the new carbon shafts available out there. But you can bend aluminum, and they are very difficult if not impossible to straighten with good results.
But when it comes to hunting, i prefer an aluminum over a carbon, because they will bend a lot before they break. I do not like the way a carbon arrow shatters into many pieces, or how easily they just snap off. The first ones out and maybe some still on the market used to splinter really bad too. i believe the technology has got around that one.....
Last but not least is expense....good carbon arrows are going to run 10 bucks apiece or more. if you are going to use carbon arrows you don't buy cheap ones....They are worthless in my opinion. Aluminum is by far more economical. But wood arrows are the cheapest, but a lot more labor intensive to build and maintain.....
There is my two bucks worth.....I've harvested animals with every kind of arrow except woodies now.....look out critters woodies coming at ya this year!