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I think very few people own or have owned both, so it's tricky to get precise head-to-head evaluation. That said, the Pit Boss Competition has a bit more bells-and-whistles (mostly in the controls) and slightly larger hopper but slightly smaller cooking space. On the other hand, those extras are additional points of failure, and 849 versus 884 square inches of cook space (and capacity for 21lbs versus 18lbs of pellets) likely won't be noticeable, so there probably isn't an objective answer. I think Pit Boss uses a cross-hatch design for their grates (better for keeping food from falling through) and Traeger uses parallel bars (easier to clean)? Again, pretty minor details. Compare the warranties?