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...I had in my mind info about light "hollow-point" ammo...
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Yes, once you introduce expansion into the equation then achieving adequate penetration can be problematic with light-for-caliber bullets.
If limited to light-for-caliber bullets when expansion AND penetration is desired the only real option is to find a balance between penetration and expansion. That compromise is seen in some of the newer .380ACP expanding ammunition which is designed to expand, but not very aggressively. That allows for some limited expansion while still providing reasonable penetration figures.