Question about pellet weight and FPE

I purchased 235 grain .51 cal pellets for my megalodon .51 cal.

I noticed that as pellet weight increases, the FPE tends to go up as well due to physics, but is there a point of diminishing returns, where pellet weight can have a negative effect on FPE?

I don't intend on using the megalodon for target practice greater than 25 yards. Would heavier 388 grain .51 cal slugs have a much higher FPE at close range compared to the 235g ones? And would 330 grain pellets be a better balance?
 
Well I have a much smaller example.

my AA S500 shoots 18.13 pellets @910 for 33+fpe, 21.5 @860 for 35+fpe
i just tried some 20.83 grain and saw 885fps for 36+fpe, and that was at the beginning of the curve. I expect it to top out in the 890s. 895 would tip 37fpe.

So yes, your gun will find peak fpe at a certain weight, and then go down because you run out of power for the weight.