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Rub the roast on all sides with the oil and place on a rack in a roasting pan or Dutch oven, fat-side up. Season well with the Traeger Beef Shake.
Pour the beef broth in the bottom of the pan. When ready to cook, start the Traeger grill on Smoke with the lid open until the fire is established (4 to 5 minutes). Set the temperature to 450F (High) and preheat, lid closed, for 10 to 15 minutes.
Cook the roast for 25 to 30 minutes, or until the outside is seared. Reduce the temperature to 225F and continue cooking, 2 to 3 hours, or until medium-rare (135F on an instant-read meat thermometer). Let it reach 155F if you prefer your meat well done.
If you want to add some vegetables into the mix, add the chopped vegetables and a few sprigs of thyme into the broth and cooked, covered with foil, for the last hour of cooking. (You may need to add in 1/2 cup more of beef broth.)
Tent the roast with aluminum foil and let the meat rest for 10 minutes before slicing across the grain into thin slices.
Serve with the pan drippings, if desired.