I also found it curious that the 9mm Speer Gold Dot 124gr that everyone loves so much (and I recently bought a box) isn't nearly as potent as the Corbon 115gr JHP+P, so why do so many buy it instead?
Muzzle energy is figured as weight times velocity.
If you double the weight of a bullet, you double it's energy.
If you double the velocity, instead of doubling the energy, it quadruples it.
In the black powder eara, velocities were pretty fixed.
In the pre-minne ball era, bullet (actually round balls) weights were fixed - by the diameter of the bore.
If you wanted a heavier slug, you went to a larger diameter ( caliber).
(Still with me? -1)
Ok - so, having that information,,,,the 115 gr. (lighter slug) is moving faster.
The diameter is the same (.355 in.").
So - yes the faster Cor Bon bullet will have higher ME figures and appear "more potent".
Muzzle Energy is really a critical piece of the puzzle,,,,but,,,not in and of itself & certaily not from any foolish notion of "energy trasfer" or "stopping power".
Downrange, when a bullet hit's it's target, it takes energy to make the bullet expand.
(still with me? -2)
This is where things get fuzzy...
You need to understand the importance of cross sectional density - or sectional density as it's ofen referred to - or SD for short.
SD is the relationship between the mass of the bullet and it's diameter.
Once conical bullets came into use, it was possible to increase the weight of a bullet and still maintain a smaller diameter.
The greater the weight (mass) the better the ability to penetrate.
When a bullet expands - 9mm/.355" or .35 caliber for illustrative purposes - expands it's frontal area to a larger diameter, .50 cal or .60 cal., it changes the SD figures - due to the bullet now being - for all intents and purposes - a larger diameter.
(still with me? -3)
As the expansion takes place and the bullets ability to penetrate decreases, more available energy will aid in that process - remember it still takes energy for the bullet to expand.
Expansion - just for the sake of expansion is counterproductive since the incresed SD is decreasing the ability of the bullet to penetrate.
A worst case scenerio is that expansion all takes place on impact and nealr all the energy the round has goes into making the bullet expand.
For example - If I were to take a 115 gr. .357 bullet and load it to ~ 2000 fps out of my Marlin Cowboy II and fire it at a block of gel, it would probably expend close to 100% of it's energy on impact and literlly shatter (explode).
(still with me? -4)
What you really want is
controlled expansion.
The bullet should hit and enter the target, penetrate a few inches, then begin to expand. It should expand at a rate that comes as close as possible to reaching it's maximum diameter as nearly as possible to any internal vital organs, then stop just short of exiting or just barely exiting and falling a couple of feet behind the target.
(still with me? -5)
The reason the 124 gr Gold Dot is well regarded is that, despite having a lower muzzle energy, it has slightly greater mass (124 gr vs 115 gr).
With a greater mass it has a slightly better SD.
With a slightly better SD, it will have slightly better initial penetration.
Once it's journy through the target continues, it has a very good rate of expansion as it penetrates to the vitals.
(still with me? - 6)
Bottom line is that the others above have it right.
ME isn't something to be concerned with for a defensive situation using a good brand of factory ammo loaded for defensive purposes.
The ammo manufacturers do testing to determine the optimal rate of expansion at the optimal velocity - then determine how wide that velocity band can be.
The mentioned 124 Gold Dot just happens to have a lower optimal velocity - which in turn delivers a lower ME - which on the surface make it appear "less potent".
(did I lose you anywhere?)