It’s 100% due to the increased friction of the bearing surface. Pellets don’t have much contact surface in the barrel and that’s by design. Pellets need only a minimal amount of spin which is why Fx does the “smooth twist” on the pellet liners. The pellet skirt flairs when hit with the HPA to form the seal and off it goes. My karma EQ needs .3025 or .303 slugs to shoot slugs properly but it shoots any .30 pellet I want very accurately. Even with the skirt flairing there’s no way the undersized pellets are sealing the barrel to the same extent a properly sized slug will.
Slugs absolutely need to be spun and thus have a larger bearing surface to engage the rifling. Some slug makers I’ve worked with have been very particular as to the minimum amount of bearing surface a slug needs. That’s why certain slugs can’t be made at less than a certain amount of grains. For example one slug I’ve tried is a 71gr hybrid boattail. Slug maker won’t do lighter because the amount of bearing surface is already at the minimum level…
So with the increased friction you will get less fps.
It does not have to do with the seal because if you’re using a properly sized slug the seal you get should be as good if not better than the pellet. For example, I just ordered a .30 cal barrel from Lothar Walther. Going through the specs I saw the groove diameter is actually .306… so I emailed Lothar until the actual head of Operations John McBrayer sent me an email saying:
“With a groove diameter of .306, I would start with a .307 or .308 slug. You need a good seal, so this is probably the best place to start. This should keep the slug from being too loose or too tight.”
So as you can see the barrel maker themselves is actually advocating a slightly oversized slug for a proper seal.
It’s just friction in the barrel because once out of the barrel the slug is about 10000000x more aerodynamic than the pellets are
