Simple physics explains why the lower velocity rounds hold together better than the "modern" fast movers, and not because of bullet composition. F=MA, correct? A heavier slug moving at a slower rate of speed has the same angular momentum as a lighter round with a faster velocity. When the heavier, slower moving slug encounters the water, its deceleration relative to its mass results in less force to destroy the bullet, while its greater mass contributes to enhanced cohesion.
So, how do you explain the .50? Once again, a fast mover, even though it is very large. Think of it this way...after firing, the bullet tip encounters the medium of the water and is slowed by the water's surface tension. It immediately slows down. Meanwhile, the tail of the bullet is still traveling at close to muzzle velocity. If you have the tip of something traveling at, say, 400fps (just a guess, so don't get too uptight) and the tail of the same object still traveling at 2000fps, that object will disintegrate.
So, that is my simplified physics lecture for the day, and you can all shoot holes in it if you want to.