Back in the days before premium bullets, a .277, 150-gr cup and core bullet would be considered fine for elk. The Fusion, despite the hype about the fused jacket, is nevertheless a cup-and-core design. It should work just fine on elk, but the Nosler Partition will work a lot more finer.
The Fusion bullets are not cup-and-core bullets. Instead of starting with a cup and inserting a lead core before final forming, the Fusion bullets start with a lead core and electroplate the jacket to the core. The result is a bonded core bullet.